Raytheon-UTC deal to close Friday

By Marjorie Censer / March 30, 2020 at 10:06 AM

Raytheon and United Technologies said today they have received all the needed regulatory approvals for their merger of equals and expect to close the deal prior to the opening of trading on Friday.

"Upon the closing of the merger, United Technologies will be renamed Raytheon Technologies Corporation, and its common stock will trade on the NYSE under the ticker symbol 'RTX,'" the companies said. "The last full day of trading in the shares of Raytheon Company is expected to be Thursday, April 2, 2020, and upon the closing of the merger on Friday, April 3, 2020, each share of Raytheon Company common stock will be converted into the right to receive 2.3348 Raytheon Technologies shares."

"The first day of trading for Raytheon Technologies shares is expected to be Friday, April 3," they added.

Last week, the Justice Department said United Technologies and Raytheon must divest Raytheon's military airborne radios business, UTC's military global positioning systems and UTC's large space-based optical systems businesses to move forward with the merger.