Aerospace Group:

Business/Financial

DoJ Blesses UTC, Raytheon Merger But Requires UTC To Divest Space Optical Business

By Cal Biesecker

Friday, March 27th, 2020

SHARE:

DoJ Blesses UTC, Raytheon Merger But Requires UTC To Divest Space Optical Business

Raytheon Technologies Chairman and CEO Greg Hayes. Photo: Raytheon Technologies

The Department of Justice last Thursday evening agreed to the pending merger between United Technologies Corp. [UTX] and Raytheon [RTN] with one final caveat, that UTC divest its space-based optical business for reconnaissance satellites. The merger settlement also requires Raytheon sell its military airborne radios business and for UTC to sell its military GPS business, deals both companies previously arranged with BAE Systems for a combined $2.2 billion to help get DoJ approval for their combination. BAE’s deals for the…

Unmanned Systems

Counter-Drone Needs Will Be Addressed In Next NDAA Based On Iran War Lessons, Banks Says

A Republican senator on Armed Services Committee on Thursday said that defending against Iranian drones has been challenge for U.S. warfighters and will be an area of focus in the […]

Pentagon

Pentagon ‘Working Options’ On Iran Supplemental, May Seek Funds For New Capabilities

The Pentagon is “working options” for a potential supplemental spending request to fund the operation against Iran and replenish munitions used in the strike campaign, with a senior official noting […]

Congress

Wicker Backs “Crash Program” To Supply Ukraine With Low-Cost Weapons

Senate Armed Services Committee (SASC) Chairman Roger Wicker (R-Miss.) on Thursday proposed a rapid effort to supply Ukraine with low-cost weapons to aid that country in turning back Russia. “We […]

Congress

Dem Lawmakers Want To Codify Trump’s Push For More Defense Contractor Accountability

A group of four Congressional Democrats want to codify President Donald Trump’s push to hold defense firms accountable for prioritizing production investments over paying out stock buybacks, and are seeking […]