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Raytheon Agrees To Mega Merger With United Technologies

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Raytheon Agrees To Mega Merger With United Technologies

Raytheon Company (NYSE: RTN) shares are trading higher following an agreement with United Technologies Corporation (NYSE: UTX) in an all-stock merger of equals. The combined company will have approximately $74 billion in pro forma 2019 sales.

Raytheon is a defense company and United Technologies is an aerospace company comprised of Collins Aerospace and Pratt & Whitney.

Raytheon shareholders will receive 2.3348 shares in the combined company for each Raytheon share.

Upon the completion of the merger, United Technologies shareholders will own approximately 57 percent and Raytheon shareholders will own approximately 43 percent of the combined company on a fully diluted basis.

The merger is expected to close in the first half of 2020.

Raytheon shares were trading up 9.1 percent at $203 in Monday's pre-market session, while United Technologies was trading higher by 3.5 percent to $136.80.

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