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Raytheon & United Technologies Shareholders Approve Merger

By John F. Heerdink, Jr.

As per reports, shareowners of Raytheon Company and United Technologies Corporation (UTX) have approved of all the necessary proposals to conclude the merger of equals business combining United Technologies’ aerospace businesses, consisting of Collins Aerospace and Pratt & Whitney, with Raytheon at their respective special meetings.

The contract is expected to close in the first half of 2020 is subject to other customary closing conditions, including the completion of the separation of Otis and Carrier businesses by United Technologies.

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

Greg Hayes, United Technologies Chairman, and CEO stated: “With our technological and R&D capabilities, Raytheon Technologies will deliver innovative and cost-effective solutions aligned with the highest customer priorities for decades to come.”

Dow 30 component United Technologies Corporation (UTX) creates smart, sustainable solutions that are used to provide high-technology systems and services to both the building and aerospace industries. To learn more about United Technologies Corp. (UTX) and to track its progress please visit the Vista Partners United Technologies Coverage Page.

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(Read Original Story: Shareowners Approve Raytheon and United Technologies Merger of Equals in PR Newswire)