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WSJ report: Raytheon and United Technologies reach deal

Posted at 5:17 PM, Jun 08, 2019
and last updated 2019-06-09 20:29:01-04

NEW YORK, N.Y. — United Technologies made a deal to acquire Raytheon that's according to a report from The Wall Street Journal.

It's being called one of the industry's biggest deals ever, and will form an aerospace and defense giant.

The new entity will be called Raytheon Technologies Corp.

The combination it set to happen in the first half of 2020.

The companies have a combined market value of nearly $166,000,000,000 with United Technologies being twice the size of Raytheon.

According to the report United Technologies CEO Greg Hayes would lead the combined company, while Raytheon CEO Thomas Kennedy would become chairman.

We have reached out to Raytheon Tucson for a response to this report.