United Technologies: buys Rockwell Collins as expected.
(CercleFinance.com) - US diversified manufacturer United Technologies is going to pay 30 billion dollars for Rockwell Collins, a manufacturer of avionics, flight controls, and aircraft interiors, the company said on Tuesday.
Both groups have reached a definitive agreement under which United Technologies will acquire Rockwell Collins for 140 dollars per share, in cash and UTC stock.
Rockwell Collins shares closed at 130.6 dollars last night.
"This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems," the maker of Otis elevators said.
UTC expects that the combination will be earnings accretive after the first full year, following closing, generating estimated synergies of over 500 million dollars by year four.
Persistant rumours have been circulating in the market regarding a merger between these groups for a few weeks now.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Both groups have reached a definitive agreement under which United Technologies will acquire Rockwell Collins for 140 dollars per share, in cash and UTC stock.
Rockwell Collins shares closed at 130.6 dollars last night.
"This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems," the maker of Otis elevators said.
UTC expects that the combination will be earnings accretive after the first full year, following closing, generating estimated synergies of over 500 million dollars by year four.
Persistant rumours have been circulating in the market regarding a merger between these groups for a few weeks now.
Copyright (c) 2017 CercleFinance.com. All rights reserved.