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 Bosto...