Home / M&A Activity / Ellen Lord: DoD Sees ‘No Major Concerns’ With Proposed Raytheon-UTC Merger

Ellen Lord: DoD Sees ‘No Major Concerns’ With Proposed Raytheon-UTC Merger

Ellen Lord

Ellen Lord, defense undersecretary for acquisition and sustainment and a 2019 Wash100 Award winner, said the Department of Defense sees “no major concerns” with the proposed merger of Raytheon (NYSE: RTN) and United Technologies Corp. (NYSE: UTX), Defense One reported Monday.

Lord said she has implemented new processes to assess mergers and acquisitions and in the event of a merger deal, her division works with service branches to understand “what business they have with each of the two companies and whether they see any problems with limiting competition where they’re just two of them.”

“Then we partner with either the Department of Justice or the Federal Trade Commission to step through and see if there are any issues. We’re working through that process right now,” Lord said about the Raytheon-UTC deal.

Raytheon and UTC agreed to merge in June through an all-stock transaction to form a platform-agnostic technology provider in the defense and aerospace segments. The deal is expected to close in the first half of 2020.

Check Also

Perspecta Labs Recognized for Cybersecurity Innovations Under DARPA Program; Mac Curtis Quoted

Perspecta's (NYSE: PRSP) applied research arm has been selected to receive a 2019 Industry Innovator award for introducing three cybersecurity technology platforms through the Defense Advanced Research Projects Agency’s Rapid Attack Detection, Isolation and Characterization Systems program.

Boeing, Navy Conduct First MQ-25 Unmanned Tanker Test Flight

Boeing (NYSE: BA) and the U.S. Navy completed the initial flight test of the MQ-25 unmanned aerial refueling platform.