The month-long suspense that’s been building over about a possible United Technologies/Rockwell Collins deal finally ended Tuesday morning with an announcement Bloomberg called “one of the biggest in aviation history.” United Technologies chairman and CEO Greg Hayes confirmed his company will purchase Rockwell Collins for $30 billion.
United Technologies to Buy Rockwell Collins
Key Takeaways:
- United Technologies (UTC) will acquire Rockwell Collins for $30 billion, combining it with UTC Aerospace Systems to form a new entity called Collins Aerospace Systems, led by current Rockwell Collins CEO Kelly Ortberg.
- Rockwell Collins shareholders will receive $140 per share, consisting of $93.33 in cash and $46.67 in UTC stock, with UTC also assuming $7 billion in Rockwell Collins debt.
- The deal has drawn skepticism and concern from major customers like The Boeing Company, who plan to review its impact on their interests and are prepared to exercise contractual and regulatory options if necessary.
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