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UTC-Raytheon Merger Deal Set to Close Friday; Thomas Kennedy, Greg Hayes Quoted

United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) have set the closure date of their all-stock merger for Friday, April 3, after securing all the regulatory clearances needed to close the transaction. According to a joint statement, the combined company will operate as Raytheon Technologies and trade under the “RTX” ticker symbol on the New York Stock Exchange.

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Proposed UTC-Raytheon Merger Gets DOJ Antitrust Clearance With Divestiture Requirement

The Department of Justice has given United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) an antitrust approval to proceed with their proposed merger through an all-stock transaction, Reuters reported Friday. A DOJ notice posted Thursday says the approval comes with a proposed settlement that requires both companies to divest to a U.S. approved-buyer Raytheon’s airborne tactical radios business and UTC’s military GPS business and its large space-based optical systems unit to maintain competition.

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UTC Board OKs Carrier, Otis Spinoffs; Greg Hayes Quoted

The board of directors of United Technologies Corp. (NYSE: UTX) approved the spinoffs of its Carrier and Otis subsidiaries into two independent companies and expects to complete the separations on April 3. "Executing the separations of Carrier and Otis is also a major milestone to completing the merger of UTC's aerospace businesses with Raytheon to create Raytheon Technologies,” Greg Hayes, chairman and CEO of UTC, said in a statement published Wedneday.

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

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 and create a technology provider that will be known as Raytheon Technologies.

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