Raytheon and United Technologies merger approved

Darren Wood
By Darren Wood October 14, 2019 08:56

Raytheon and United Technologies merger approved

Raytheon Company and United Technologies have seen its shareowners vote overwhelmingly to approve the merger combining United Technologies’ aerospace businesses, comprised of Collins Aerospace and Pratt & Whitney, with Raytheon.

The merger is set to create Raytheon Technologies Corporation, a systems provider with advanced technologies to address rapidly growing segments within aerospace and defence.

The transaction is expected to close in the first half of 2020, subject to the satisfaction of customary closing conditions.

Tom Kennedy, Raytheon Chairman and CEO, commented: “I am pleased that the shareowners of Raytheon and UTC voted in favor of our powerful strategic combination.

“Today’s vote reflects a significant step on our path to unite two world-class companies with complementary technologies and supports our view that this merger of equals will create additional growth opportunities while delivering benefits to our shareowners, customers and employees.”

Darren Wood
By Darren Wood October 14, 2019 08:56