Shareholders Approve UTC-Raytheon Merger

Aaron Kupec
October 11, 2019 - 10:37 am

Aaron Kupec/WTIC

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FARMINGTON, Conn. (WTIC Radio) - Shareholders of Farmington-based United Technologies Corporation and Waltham, Massachusetts-based Raytheon have approved making the two companies one.

The approvals came in special meetings Friday, the companies announced in a joint statement, which calls the deal a "merger of equals."

"Today is an important milestone in our transformational merger, which will define the future of aerospace and defense," said Greg Hayes, United Technologies Chairman and CEO.

The transaction is expected to close in the first half of 2020.

The new company-- to be called Raytheon Technologies-- will be headquartered in the Boston area.