UTC-Raytheon merging

United Technologies and Raytheon are joining forces in one of the biggest corporate mergers of 2019. It was announce Sunday that they have agreed to combine in an all-stock deal they termed a "merger of equals." The new company would have annual revenue of about $74 billion. Under the terms of the deal, United Technologies shareholders would own 57 percent of the combined company, with Raytheon shareholders owning the rest. UTC is an industrial conglomerate, and makes everything from jet engines to elevators. It owns the Pratt & Whitney engine maker as well as Collins Aerospace. Raytheon is rooted in defense, and produces missile defense systems and cybersecurity solutions. Both companies are Airbus and Boeing suppliers. The combined company will be named Raytheon Technologies Corporation and based in Boston. It will be second in size to Boeing in the U.S. and tied for third in the world with Airbus. UTC and Raytheon have almost no overlap, with most units likely being able to stay more or less as-is. (Sources, multiple, including CNN, Forbes, 06/10/19, Winston-Salem Journal, Hartford Courant, 06/09/19) Gulf Coast note: One of UTC's three companies is Collins Aerospace, which does jet engine podding work in Foley, Ala. It has 1,100 employees. Previous