Raytheon strikes deal to merge with aerospace giant

Defense contractor Raytheon Corp. (NYSE: RTN) has agreed to an all-stock deal to be acquired by and merged with the aerospace businesses of industrial giant United Technologies Corp. (UTX).

The transaction would create the world’s second-largest aerospace and defense company behind Boeing Co. (NYSE: BA) with an estimated $74 billion in revenue this year.

The new entity will be called Raytheon Technologies Corp. and it will pair Waltham, Massachusetts-based Raytheon, best known as the maker…

Source: The Business Journal