Raytheon, UTC shareholders approve merger

Raytheon and United Technologies said their shareholders at respective meetings held today approved the proposals necessary to complete their merger.

The deal is set to unite Raytheon with United Technologies' aerospace businesses, made up of Collins Aerospace and Pratt & Whitney.

"The transaction is expected to close in the first half of 2020, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals, as well as completion by United Technologies of the separation of its Otis and Carrier businesses," the companies said.