Home / M&A Activity / Greg Hayes: UTC Targets Q3 2018 for Rockwell Collins Deal Completion

Greg Hayes: UTC Targets Q3 2018 for Rockwell Collins Deal Completion

Greg Hayes

Greg Hayes, CEO of United Technologies Corp. (NYSE: UTX), has said the company is “on track” with the regulatory clearance process and in the final phase of completion with regard to its pending $30 billion acquisition of Rockwell Collins (NYSE: COL), The Gazette reported Tuesday.

“We expect the transaction to close here still in the third quarter,” Hayes said during an earnings call Tuesday.

The report said the deal has secured approval from the European Union and the Philippines.

Farmington, Connecticut-based conglomerate UTC announced in September 2017 that it will pay approximately $23 billion in cash and stock, or $140 per share, and assume $7 billion in net debt to acquire the Cedar Rapids, Iowa-based avionics contractor to establish a new division that will operate as Collins Aerospace Systems.

Check Also

Carahsoft Adds AWS Offerings on GSA IT Schedule 70 Contract; Will Jones Quoted

Carahsoft Technology has expanded its role as an Amazon Web Services distributor by offering the AWS suite of cloud-based products and services via the General Services Administration's IT Schedule 70 contract vehicle.

AE Industrial Partners to Buy Rotocraft Services Provider Columbia Helicopters

Private equity firm AE Industrial Partners has agreed to acquire heavy-lift rotorcraft manufacturing and operations services provider Columbia Helicopters for an undisclosed amount. AEI said Thursday Columbia Helicopters CEO Steve Brandy will continue to serve in his position and Nancy Lematta will keep her majority share as part of the transaction.