Chinese regulators have given
United Technologies Corp. (NYSE: UTX) the green light to pursue its
planned $30B acquisition of
Rockwell Collins (NYSE: COL).
UTC said Friday the approval marks the final regulatory clearance the company needed to complete its purchase of the Cedar Rapids, Iowa-based avionics contractor.
Farmington, Conn.-based conglomerate UTC agreed in September to pay approximately $23B in cash and stock and assume $7B in net debt from Rockwell Collins in a push to expand its footprint in the aerospace market.
UTC said it expects to wrap up the acquisition within three business days following the approval in China.
The new award follows earlier Longbow contracts for radar electronics, mast-mounted assemblies and Apache radar sustainment services.
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Chinese regulators have given United Technologies Corp. (NYSE: UTX) the green light to pursue its planned $30B acquisition of Rockwell Collins (NYSE: COL).
