Shareholders approve joining of Raytheon Co. and United Technologies Corp. in so-called merger of equals
WALTHAM, Mass. – Shareholders backed the creation of one of the world’s largest aerospace companies on Friday, voting in favor of the $135 billion combination of United Technologies Corp. and Raytheon Co. The Wall Street Journal reports. Continue reading original article
The Military & Aerospace Electronics take:
17 Oct. 2019 -- The merger plan announced in June overcame initial opposition from some activists and other investors skeptical about combining two companies with different growth paths in the defense and commercial-aerospace businesses.
Raytheon Technologies, as the enlarged company will be known, aims to counter the challenges with the breadth of its offerings. Its Pratt & Whitney engines power Airbus jetliners, Lockheed Martin F-35 combat aircraft and the Boeing KC-46 tanker. Raytheon is focused on fast-growing areas such as hypersonic missiles and laser weapons and defenses.
Military sales would account for about $41 billion—or 55 percent of annual revenue—at the new Raytheon Technologies. It will leapfrog Northrop Grumman Corp. to become the world’s second-largest defense company after Lockheed Martin Corp. , which will have sales close to $60 billion this year.
John Keller, chief editor
Military & Aerospace Electronics
