United Tech (UTX) Passes All Regulatory Hurdles in Goodrich (GR) Acquisition
Tweet Send to a FriendGet Alerts UTX Hot Sheet
Price: $97.23 -0.12%
Overall Analyst Rating:
BUY (
Up)
Dividend Yield: 2.2%
Revenue Growth %: +116,029.0%
Overall Analyst Rating:
BUY (
Up)Dividend Yield: 2.2%
Revenue Growth %: +116,029.0%
Trade UTX Now!
United Technologies Corp. (NYSE: UTX) today announced that all remaining regulatory approvals related to the proposed acquisition of Goodrich Corporation (NYSE: GR) have been obtained.
Today's conclusion of the regulatory review by the U.S. Department of Justice and the European Commission clears the way for United Technologies to proceed with the proposed acquisition announced on Sept. 21, 2011. The acquisition is expected to close by the end of the week.
In line with previous expectations, the regulatory clearances require that UTC sell Goodrich's Electric Power Systems business and Goodrich's Connecticut-based Pumps and Engine Controls business. Also as expected, UTC will sell Goodrich's interest in Aero Engine Controls (AEC), a joint venture with Rolls-Royce. The AEC aftermarket business will remain with UTC, but Rolls-Royce will have ability to purchase this aftermarket business in the future.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Today's conclusion of the regulatory review by the U.S. Department of Justice and the European Commission clears the way for United Technologies to proceed with the proposed acquisition announced on Sept. 21, 2011. The acquisition is expected to close by the end of the week.
In line with previous expectations, the regulatory clearances require that UTC sell Goodrich's Electric Power Systems business and Goodrich's Connecticut-based Pumps and Engine Controls business. Also as expected, UTC will sell Goodrich's interest in Aero Engine Controls (AEC), a joint venture with Rolls-Royce. The AEC aftermarket business will remain with UTC, but Rolls-Royce will have ability to purchase this aftermarket business in the future.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Royalty Pharma Raises Elan (ELN) Bid to $12.50/share
- OSI Systems (OSIS) Unit Issued Notice of Proposed Debarment from U.S. DHS
- Acacia (ACTG). Nextgen Internet Systems Enter License
Create E-mail Alert Related Categories
Corporate News, Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
