Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

UTC, Raytheon deal wins U.S. antitrust approval, with divestitures

share with twitter share with LinkedIn share with facebook
share via e-mail
03/26/2020 | 09:13pm EDT
A screen shows the logos and trading information for defense contractor Raytheon Co, and United Technologies Corp. on the floor at the NYSE in New York

The U.S. Justice Department has approved United Technologies Corporation's planned merger with Raytheon Co, subject to conditions, the agency said on Thursday.

UTC agreed in June to combine its aerospace business with U.S. contractor Raytheon and create a new company worth about $121 billion, in what would be the sector's biggest ever merger. It won EU antitrust approval earlier in March.

To win U.S. approval, the companies agreed to divest Raytheon's military airborne radios business, including facilities in Indiana and Florida, and UTC's military global positioning systems, including a facility in Connecticut.

The businesses are to be sold to BAE Systems Inc or another buyer approved by the Justice Department.

The companies are the only Defense Department suppliers for military airborne radios and military GPS systems for air and sea, the Justice Department said.

The Justice Department said that the two companies were among the few companies that made components for certain military satellites, including those that warn of missile launches. Because of this, the department also required the companies to sell UTC's big space-based optical systems businesses.

(Reporting by Diane Bartz; Editing by Sandra Maler, Lisa Shumaker and Diane Craft)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Economy & Forex"
03:40pU.S. AIR FORCE RECOMMENDS PAYING BOEING UP TO $924 MILLION : sources
RE
03:39pRecord Unemployment Claims Unlikely to Show Up in Friday's March Jobs Report
DJ
03:37pU.S. Air Force recommends paying Boeing up to $924 million - sources
RE
03:34pTrump touts 'great' Saudi-Russia oil deal to halt price rout, details unclear
RE
03:26pU.S. FINANCIAL INDUSTRY ASKING SEC TO DELAY BROKER DISCLOSURE RULE, CITING CORONAVIRUS : sources
RE
03:18pAMERIPRISE FINANCIAL : The Story of a Quarter Rocked by a Global Pandemic
PU
03:16pNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
03:16pNEWS HIGHLIGHTS : Top Company News of the Day
DJ
03:14pNew York's Jobless Claims Soar as Coronavirus Forces Layoffs
DJ
03:13pDollar gains for second day, shrugs off record U.S. jobless claims
RE
Latest news "Economy & Forex"