Alva Review-Courier -

Raytheon, United Technologies to merge

 


WALTHAM, Mass. (AP) — Raytheon Co. and United Technologies Corp. are merging in a deal that creates one of the world's largest defense companies.

The merger, announced Sunday, will close in the first half of 2020 after United Technologies completes the separation of its Otis and Carrier businesses. Raytheon shareholders will receive 2.33 shares in the new company for each Raytheon share.

The combined company, named Raytheon Technologies, will be based near Boston. United Technologies' current Chairman and CEO Greg Hayes will be its CEO. Raytheon chief Tom Kennedy will be its executive cha...



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