Raytheon, United Technologies Merger Will Create A New Aerospace Giant
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June 10, 2019 - by Bill Chappell for npr.org
The Raytheon Co. and United Technologies Corp. are merging in an all-stock deal that the two companies say is a merger of equals. The new company's name will be Raytheon Technologies Corp. — and it's expected to have nearly $74 billion in annual sales.
The new defense and aerospace company would be second only to Boeing in the U.S., according to the latest Forbes 500 rankings by annual revenue. On that list, Boeing had more than $101 billion in revenue while another rival, Lockheed Martin, racked up $53.7 billion, according to Forbes.
"The combination of United Technologies and Raytheon will define the future of aerospace and defense," United Technologies Chairman and CEO Greg Hayes said in a statement about the deal...