Tag Archives: UTX

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

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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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James Taiclet to Succeed Marillyn Hewson as Lockheed President, CEO

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James Taiclet, a board member at Lockheed Martin (NYSE: LMT), has been elected by the board of directors to succeed Marillyn Hewson as president and CEO, effective June 15. Hewson, who has served as president and CEO since 2013 and a 2020 Wash100 award winner, will transition to the role of executive chairman of the board by mid-June, Lockheed said Monday.

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UTC Board OKs Carrier, Otis Spinoffs; Greg Hayes Quoted

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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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Stephen Timm Named Collins Aerospace President

Stephen Timm, president of the avionics business unit at United Technologies Corp.’s (NYSE: UTX) Collins Aerospace subsidiary, has been named president of the subsidiary. He will succeed Kelly Ortberg, who has been appointed special adviser to the office of the CEO as UTC and Raytheon (NYSE: RTN) move ahead with their merger to form Raytheon Technologies, UTC said Friday.

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