United Technologies Corp (UTC) plans to acquire Raytheon Company and combine its aerospace business with Raytheon to create an enormous company expected to be worth $120 billion—the largest merger to take place to date within the aerospace sector. The deal was announced on Sunday.
United Technologies To Acquire Raytheon In Massive Aero Merger
Key Takeaways:
- United Technologies Corp (UTC) is acquiring Raytheon Company to create Raytheon Technologies Corp, an aerospace and defense behemoth valued at $120 billion, marking the largest merger in the aerospace sector.
- The new company will combine UTC's commercial aerospace business (including Pratt & Whitney and Collins Aerospace) with Raytheon's defense focus (missile systems, military intelligence), after UTC spins off its non-aerospace units.
- The merger anticipates $1 billion in cost advantages and plans to hire approximately 20,000 people, but will undergo thorough antitrust review by U.S. regulators.
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