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United Technologies and Raytheon: $135 Billion

• Date Announced: June 9, 2019

• Date Completed: April 3, 2020

• Deal Type: Merger of Equals

• Industry: Aerospace and Defense

• Strategic Rationale:

• The merger between United Technologies Corporation (UTC) and Raytheon Company was aimed at creating a premier systems provider with advanced technologies in aerospace and defense. The deal combined UTC’s aerospace expertise with Raytheon's defense technologies, aiming for a more balanced revenue mix between commercial aerospace and defense.

• Financial Details:

• The transaction was an all-stock merger valued at approximately $135 billion, resulting in the formation of Raytheon Technologies Corporation.

• Impact:

• The merger resulted in substantial cost synergies and positioned the combined company as a major player in the aerospace and defense sectors. The deal provided a strong foundation for growth, particularly in the fields of defense electronics, missile systems, and avionics.

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