Sun. Jun 16th, 2019

Pentagon in talks with industry on United Technologies and Raytheon merger: statement

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WASHINGTON (Reuters) – Pentagon leadership is engaging with industry leadership to understand the implications of the United Technologies Corp merger with Raytheon Co, a Pentagon official said on Monday.

“Under Secretary of Defense for Acquisition and Sustainment Ellen Lord is engaging with industry leadership to understand the implications and governance as a result of this acquisition,” the statement said. Lord is the chief weapons buyer for the Pentagon.

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The $121 billion deal, announced on Sunday and expected to close in the first half of 2020, would potentially upend the aerospace sector, creating a conglomerate spanning commercial aviation and defense procurement. The Pentagon would be one of the new company’s largest customers.

Reporting by Mike Stone; Editing by Nick Zieminski

Heard from http://feeds.reuters.com/~r/reuters/businessNews/~3/KS1ObkmYl0Q/pentagon-in-talks-with-industry-on-united-technologies-and-raytheon-merger-statement-idUSKCN1TB2BJ

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