United Technologies and Raytheon Will Combine to Form Megasize Aerospace and Defense Firm
In a surprise move, wide-moat-rated firms United Technologies and Raytheon announced plans to merge to create what will become the second-largest aerospace and defense firm as measured by 2019 pro forma sales. The announcement confirms credible rumors that surfaced June 8, suggesting that the parties were close to agreement on a merger. The deal is expected to close in the first half of 2020, after the planned spin-offs of United Technologies segments Otis (elevators and escalators) and Carrier ...United Technologies provides technology products and services to the building systems and aerospace industries. The company has four segments: Otis, which designs, manufactures, sells and installs passenger and freight elevators; Carrier, which provides heating, ventilating, air conditioning refrigeration, fire, security and building automation products; Pratt & Whitney, which supplies aircraft engines for the commercial, military, business jet and general aviation market; and Collins Aerospace Systems, which provides aerospace products and aftermarket service solutions for aircraft manufacturers, airlines, regional, business and general aviation markets, military, space and undersea operations.
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