UT - Ratheon Announce Merger Of Equals

A huge deal announced overnight.

United Technologies is planning to merge with Massachusetts based aerospace giant Raytheon.

The companies yesterday announced plans for an all stock merger transaction that would close early next year.

The new company will be headquartered near Boston, although Connecticut's employment of 19 thousand UTC workers should not change.

United Technologies CEO Greg Hayes will remain as CEO of the new company, with Raytheon CEO Thomas Kennedy becoming chairman.

(Logo provided by United Technologies)

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