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Business/Financial

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

By Cal Biesecker

Friday, March 27th, 2020

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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…

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