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Title : United Technologies Nears $30bn Deal for Rockwell
link : United Technologies Nears $30bn Deal for Rockwell

United Technologies Nears $30bn Deal for Rockwell

United Technologies Nears $30bn Deal for Rockwell Collins; Combined group would be critical supplier to Boeing and Airbus (excerpt)

United Technologies Corp is nearing a deal to buy aviation systems and cabin equipment maker Rockwell Collins for close to $30bn including debt as consolidation among the world’s biggest aircraft suppliers gathers pace.

People close to the discussions said that the precise terms of a takeover had not yet been cemented, but that the two sides were locked in intensive negotiations with a view towards finalising a deal as early as this weekend. One of these people said that the deal was likely to end up valuing Rockwell at around $140 per share.

Shares in North Carolina-based Rockwell climbed 1.8 per cent to $130.14 on Tuesday morning, giving the company a market value of $21bn. It has net debt of roughly $7bn. Shares in UTC rose 2.2 per cent.

A takeover of Rockwell would make UTC, a $93bn group known for making Carrier air

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conditioning units, Otis elevators and Pratt & Whitney jet engines, an even more critical supplier of components to aircraft companies such as Boeing and Airbus. It could also give UTC the option of separating its aerospace and aviation business from the rest of the company.

An acquisition would mark the third major deal among aircraft suppliers in less than a year. Just a few months ago, Rockwell completed its $8.6bn acquisition of B/E Aerospace, which gave the company — best known for its electronic communication and avionic systems — a presence in cabin interior systems such as seats, galleys and lavatories. (end of excerpt)

Click here for the full story, on the Financial Times website.

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