Hello, Guest!
  • Thursday, November 21, 2024

Raytheon, UTC Shareholders OK All-Stock Merger Deal; Thomas Kennedy, Greg Hayes Quoted


Thomas Kennedy

Stockholders at Raytheon (NYSE: RTN) and United Technologies Corp. (NYSE: UTX) approved at their respective meetings the companies™ agreement to merge in an all-stock transaction to form a technology provider – Raytheon Technologies – within aerospace and defense segments.

The companies agreed to merge in June and Raytheon said Friday both firms expect the transaction to close in the first half of 2020, subject to regulatory approvals and UTC™s completion of the separation of its Carrier and Otis businesses.

Greg Hayes

“Today’s vote reflects a significant step on our path to unite two world-class companies with complementary technologies and supports our view that this merger of equals will create additional growth opportunities while delivering benefits to our shareowners, customers and employees, said Thomas Kennedy, chairman and CEO of Raytheon and a 2019 Wash100 winner.

Greg Hayes, UTC chairman and CEO, said the combined firm will leverage research-and-development and technological capabilities to deliver novel platforms in support of customer priorities.

Video of the Day

Related Articles

RTX Strikes $1.3B Deal to Divest Cybersecurity & Intelligence Business M&A Activity

RTX Strikes $1.3B Deal to Divest Cybersecurity & Intelligence Business

RTX (NYSE: RTX) has agreed to sell its Raytheon’s cybersecurity, intelligence and services business to an undisclosed buyer for approximately $1.3 billion. The company announced the move in its third-quarter earnings report published Tuesday. Reuters reported that private equity firm Blackstone was the prospective purchaser of the business. The Raytheon cyber business provides software modernization

RTX Reports Strong Organic Sales Growth in Q3 2023; Greg Hayes Quoted Financial Reports

RTX Reports Strong Organic Sales Growth in Q3 2023; Greg Hayes Quoted

The shares of RTX (NYSE: RTX) popped 7.18 percent to $78.38 after the aerospace and defense company reported a year-over-year Adjusted sales growth of 12 percent to $19 billion in the three months that ended Sept. 30, 2023. Besides announcing a $10 billion stock buyback program, RTX also entered into a definitive agreement to sell its

RTX Posts Q2 2023 Sales Growth of 12%; Greg Hayes Offers Update on Business Realignment Financial Reports

RTX Posts Q2 2023 Sales Growth of 12%; Greg Hayes Offers Update on Business Realignment

RTX (NYSE: RTX), formerly Raytheon Technologies, posted $18.3 billion in fiscal 2023 second quarter sales, up 12 percent from the prior-year period, and saw its adjusted earnings per share increase 11 percent to $1.29 during the quarter. The Arlington, Virginia-based aerospace and defense contractor said Tuesday its backlog at the end of the quarter totaled