Raytheon and United technologies in talks of merger


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Raytheon and United technologies in talks of merger

Raytheon Co., a major US defense contractor with core manufacturing concentrations on weapons for military, headquartered in Waltham, Massachusetts, and United Technologies Corp., an aircraft manufacturing conglomerate based in Connecticut, had been in an early stage of an all-stock merger talk, a Wall Street Journal published on Saturday, the 8th of June 2019, had unveiled, citing people familiar with the subject-matter.

Besides, the Wall Street Journal’s Saturday’s (June 8th) report had also added that the merger, anticipated to be endorsed as a merger of equals, would not be impacting the US-based multinational aircraft company’s previous plans of dissecting its Otis elevator alongside Carrier building system businesses into separate companies.

Aside from that, the Chief Executive of United Technologies, headquartered in Farmington, Greg Hayes, would likely to lead the merger, while CEO of Raytheon, Thomas Kennedy was expected to be the Chairman, the Wall Street report said.

Although the talks had been in early stages, citing sources familiar with the deal, Saturday’s report had also unveiled that a merger deal between the companies could be announced as early as by the next week.

None the less, both Raytheon and United Technologies, neither declined nor acknowledged a merger deal in the coming days while being asked for comments.