United Technologies and Raytheon Merger

Companies Promise Unsurpassed Technology and R&D Capabilities
Source:  United Technologies

 Creates a $160 Billion Aerospace/Defense Giant
In a surprise Sunday announcement, United Technologies and Raytheon announced plans to merge.  The new company will be called Raytheon Technologies Corporations and the combination creates a $160 billion global aerospace and defense leader.  The all stock deal is expected to close in the first half of 2020. They say it will generate annual cost savings of $1 billion.  The merger does not include UTC's Otis and Carrier business units which are expected to separate from UTC in 2020.

Merger of Equals
The companies term this a "merger of equals".  The companies  say that by joining forces they have "unsurpassed technology and expanded R&D capabilities" to deliver innovation.  They add the merger will "deliver cost and revenue synergies". The likely headquarters for the new entity is the Boston area. There was some speculation that the two New England based companies were talking, but tonight's announcement that the two global aerospace businesses are merging came as a big surprise.

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