Ellen Lord, defense undersecretary for acquisition and sustainment and a 2019 Wash100 Award winner, said the Department of Defense sees âno major concernsâ 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 âwhat business they have with each of the two companies and whether they see any problems with limiting competition where theyâre just two of them.â
âThen we partner with either the Department of Justice or the Federal Trade Commission to step through and see if there are any issues. Weâre working through that process right now,â 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.