Raytheon is reportedly in late-stage talks to merge with United Technologies' aerospace unit in an all-stock deal. They said that the merger would create a new company worth more than $100 billion. The deal would reportedly not affect the plans of United Technologies to spin off its Otis elevator business and its Carrier air conditioning business into separate companies. WSJ reports that the proposed company would be called "Raytheon Technologies" and the CEO of United Technologies, Gregory Hayes would become its new CEO. The company also announced in March 2018 that they landed a three-year, $600 million software contract that would employ 800 people.

Source: Wall Street Journal June 09, 2019 01:41 UTC