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.
As per reports, United Technologies Corporation and Raytheon Company announced that they have obtained all required regulatory approvals for their all-stock equal merger. Upon the merger, United Technologies is to be known as Raytheon Technologies Corporation with its common stock to trade on the NYSE under the symbol“RTX”. The first day of trading for Raytheon Technologies shares is expected to be Friday, April 3, 2020.
“We are pleased to have received all the necessary regulatory approvals, which clears the way for the successful completion of our merger of equals,” “We are more than just two businesses coming together – Raytheon Technologies will be uniquely positioned to deliver advanced and innovative solutions to our customers while delivering significant value to shareowners,” stated Tom Kennedy, Raytheon Chairman, and CEO.
Prior to the close of the merger, United Technologies to separate its Carrier and Otis businesses into two separate publicly-traded companies. The trading to be under symbol “CARR” and “OTIS” respectively on the NYSE.
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