Raytheon and United Technologies Merge to Create a New Aerospace Giant

The Raytheon Co. and United Technologies Corp. are merging in an all-stock deal that the two companies say is a merger of equals. “The combination of United Technologies and Raytheon will define the future of aerospace and defense,” United Technologies Chairman and CEO Greg Hayes said in a statement about the deal. Under the deal, United Technologies’ shareholders will own about 57% and Raytheon shareholders will own about 43% of the merged company.

Source: www.npr.org