US: United Technologies defends its deal with Raytheon

US: United Technologies defends its deal with Raytheon

United Technologies executives defended their deal after making a slightly raised the company’s 2019 profit outlook reported the Wall Street Journal. The industrial conglomerate is pursuing a restructuring that will split it into three companies by mid-2020. It also closed its acquisition of aircraft-parts maker Rockwell Collins late last year, and last month agreed to […]

US: Billionaire Daniel Loeb opposes United Technologies, Raytheon merger

US: Billionaire Daniel Loeb opposes United Technologies, Raytheon merger

Billionaire investor Daniel Loeb said on Friday, June 28, that his hedge fund Third Point will vote against the planned merger of United Technologies and Raytheon, saying there is no “strategic rationale for this transaction,” reported Reuters. “We have concluded that the proposed combination of United Technologies and Raytheon is ill-conceived and unlikely to create […]

US: United Technologies and Raytheon consider mega-merger

US: United Technologies and Raytheon consider mega-merger

United Technologies is nearing a deal to merge its aerospace business with US defense contractor Raytheon and form a new company worth well over US$100 billion, reported the Financial Times. United Technologies and Raytheon are seeking to pool resources through what would be the biggest merger in the aerospace and defense sectors. United Technologies provides […]

US: United Tech, Rockwell deal faces antitrust scrutiny

US: United Tech, Rockwell deal faces antitrust scrutiny

United Technologies and Rockwell Collins announced last week a US$23 billion deal that will be the largest ever in the aerospace industry when it closes, but the enormity of the tie-in could bring extra antitrust scrutiny from regulators, according to the Wall Street Journal. This deal comes after years of small-scale consolidation in the aerospace […]

US: Senator unsure if antitrust issues will impact sale of Rockwell Collins

US: Senator unsure if antitrust issues will impact sale of Rockwell Collins

Avionics maker Rockwell Collins, headquartered in Cedar Rapids, is being purchased by Connecticut-based rival United Technologies for US$23 billion. Iowa Senator Chuck Grassley says it’s still unclear whether there may be any antitrust issues that derail the deal. “It will get vigorous review by the Justice Department, as all mergers do,” Grassley says. “We’ll just […]

US: Boeing objects to United Technologies-Rockwell Collins buy

US: Boeing objects to United Technologies-Rockwell Collins buy

Aerospace giant Boeing raised concerns Tuesday, September 5, about the merger of US-based industrial conglomerate United Technologies and aviation equipment supplier Rockwell Collins, saying it could use its weight with regulators to scrutinize the deal. Boeing said it was concerned the deal announced Monday would not be in the best interests of the company. “We […]

US: United Technologies nearing US$20b Deal to buy Rockwell Collins

US: United Technologies nearing US$20b Deal to buy Rockwell Collins

United Technologies (UTC) is nearing a deal to buy aviation systems and cabin equipment maker Rockwell Collins for close to US$20 billion, including debt, as consolidation among the world’s biggest aircraft suppliers gathers pace. The Wall Street Journal said that the precise terms of a takeover had not yet been cemented, but that the two […]