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United Technologies and Raytheon Complete Merger of Equals Transaction

- Creates the world's most advanced aerospace and defense systems provider

- Serves customers worldwide through a platform-agnostic, diversified portfolio of industry-leading businesses

- Expects to introduce breakthrough technologies at an accelerated pace across high-value areas of commercial aerospace and defense

PR Newswire

WALTHAM, Mass., April 3, 2020

WALTHAM, Mass., April 3, 2020 /PRNewswire/ -- Raytheon Technologies Corporation (NYSE: RTX) announced the successful completion of the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation on April 3, 2020, following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses. Headquartered in Waltham, Mass., Raytheon Technologies is one of the largest aerospace and defense companies in the world with approximately $74 billion in pro forma 2019 net sales and a global team of 195,000 employees, including 60,000 engineers and scientists.

Raytheon Company (NYSE:RTN) shares ceased trading prior to the market open on April 3, 2020, and each share of Raytheon common stock has been converted in the merger into the right to receive 2.3348 shares of United Technologies common stock (previously traded on the NYSE under the ticker symbol "UTX"). Upon closing of the merger, United Technologies' name has changed to "Raytheon Technologies Corporation," and its shares of common stock will begin trading today on the NYSE under the ticker symbol "RTX." United Technologies shareowners will continue to hold their shares of United Technologies common stock, which now constitute shares of common stock of Raytheon Technologies Corporation.

Raytheon Technologies has a large, talented workforce to address the rapidly evolving needs of customers globally. The combined company expects to introduce breakthrough technologies at an accelerated pace across high-value areas such as hypersonics, directed energy, avionics and cybersecurity. In addition, Raytheon Technologies has a strong balance sheet and cash flows to support critical business initiatives, including company and customer-funded R&D.

"Raytheon Technologies brings together two companies with combined strengths and capabilities that make us uniquely equipped to support our customers and partners during this unprecedented time. We will also play our part in the war on the COVID-19 pandemic, including doing everything we can to keep our employees around the globe safe and well," said Greg Hayes, CEO of Raytheon Technologies. "As we move forward, Raytheon Technologies will define the future of aerospace and defense through our focus on innovation, our world-class people and our financial and operational strength to create long-term value for our customers and shareowners."

"Today, we introduce Raytheon Technologies as an innovation powerhouse that will deliver advanced technologies that push the boundaries of known science," said Tom Kennedy, Executive Chairman of Raytheon Technologies. "Our platform-agnostic, diversified portfolio brings together the best of commercial and military technology, enabling the creation of new opportunities across aerospace and defense for decades to come."

Structure and Leadership
Raytheon Technologies has four market-leading segments focused on high-priority areas for customers. (Note: 2019 net sales are prior to intercompany eliminations)

 

Collins Aerospace Systems specializes in aerostructures, avionics, interiors, mechanical systems, mission systems and power controls that serve customers across the commercial, regional, business aviation and military sectors. The segment is led by President Stephen Timm, headquartered in Charlotte, North Carolina, with approximately $26 billion in 2019 net sales.

 

 

Pratt & Whitney designs, manufactures and services the world's most advanced aircraft engines and auxiliary power systems for commercial, military and business aircraft. The segment is led by President Chris Calio, headquartered in East Hartford, Connecticut, with approximately $21 billion in 2019 net sales.

 

 

Raytheon Intelligence & Space specializes in developing advanced sensors, training, and cyber and software solutions — delivering the disruptive technologies its customers need to succeed in any domain, against any challenge. The segment is led by President Roy Azevedo, headquartered in Arlington, Virginia, with approximately $15 billion in pro forma 2019 net sales.

 

 

Raytheon Missiles & Defense provides the industry's most advanced end-to-end solutions to detect, track and engage threats. The segment is led by President Wes Kremer, headquartered in Tucson, Arizona, with approximately $16 billion in pro forma 2019 net sales.

 

Raytheon Technologies' executive leadership team is comprised of Tom Kennedy, Executive Chairman, Greg Hayes, Chief Executive Officer, and Toby O'Brien, Chief Financial Officer. Additional leadership biographies are available on the company's website.

Raytheon Technologies Investor Call
Raytheon Technologies intends to hold an investor call to discuss United Technologies and Raytheon Q1 results on May 7, 2020 at 8:30am. The call details will be provided prior to the results announcement, and the call will be webcast on the Raytheon Technologies investor relations website.

About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. It comprises four industry-leading businesses – Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense. Its 195,000 employees enable the company to operate at the edge of known science as they imagine and deliver solutions that push the boundaries in quantum physics, electric propulsion, directed energy, hypersonics, avionics and cybersecurity. The company, formed through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

Raytheon Technologies Contacts

 

   

Media Relations

Michele Quintaglie

860.493.4363

Investor Relations

Kelsey DeBriyn

781.522.5141

       

 

Copyright (c) 2020 PR Newswire Association,LLC. All Rights Reserved.

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RTX News: Raytheon Missiles & Defense awarded $624 million for Stinger missile production 05/27/2022 01:53:00 PM
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RTX News: Raytheon Technologies venture capital group invests in Hermeus 05/12/2022 06:00:00 AM
RTX News: Qantas Airways Confirms Selection of Pratt & Whitney GTF™ Engines to Power Airbus A220 and A320neo Family Aircraft 05/02/2022 11:00:00 AM
PostSubject
#465   Raytheon has the Alien bodies! Porterhouse10 04/29/22 05:13:58 AM
#464   "Raytheon Technologies Board Increases Quarterly Dividend" bar1080 04/28/22 10:00:24 PM
#463   Monsta! Porterhouse10 04/15/22 07:33:14 AM
#462   All-time high for Raytheon by a few cents. . bar1080 04/15/22 12:31:15 AM
#461   I can't decide whatever happens Ukraine will escalate Pisd 04/14/22 03:45:46 PM
#460   Going up KOGT 03/27/22 12:46:47 AM
#459   Ohh yeah, sold LMT pre market, will Porterhouse10 02/28/22 09:14:29 AM
#458   Defense sector in play..all of the above imo, gl... Pisd 02/28/22 09:07:43 AM
#457   Nice Porterhouse10 02/17/22 07:08:06 AM
#456   Had them for over 5 yrs now. Just Alpha611 02/16/22 11:25:48 PM
#453   $LHX that's a hell of a Growth Chart, Porterhouse10 02/15/22 12:56:22 PM
#452   btw, took bite of LHX and HII, gl... Pisd 02/15/22 11:27:30 AM
#451   Thanks for the good info, gl.. Pisd 02/10/22 04:09:36 PM
#450   You seem to be very smart, rich, intelligent, Pisd 02/10/22 03:58:32 PM
#449   You don't seem to own any stocks like bar1080 02/10/22 03:41:12 PM
#448   Love RTX been in for some time and Porterhouse10 02/10/22 12:46:28 PM
#447   Wanting a defense stock, thinking LHX, RTX, DFEN, Pisd 02/10/22 12:23:24 PM
#446   Here we go! Remember Raytheon has the Alien Bodies! Porterhouse10 02/10/22 10:38:42 AM
#445   I think maybe we gonna see new highs. Prominent Capital 01/26/22 07:53:03 AM
#444   Not much to dislike. RTX is near all-time bar1080 01/25/22 12:38:59 PM
#443   What do you think guys about today’s earnings ? Prominent Capital 01/25/22 12:05:19 PM
#442   LMAO...Got that right! Alpha611 01/15/22 03:57:51 PM
#441   But, but, Raytheon has the Alien Bodies! Haa Porterhouse10 01/15/22 03:52:39 PM
#440   RTX _ New year new high. Alpha611 01/15/22 03:51:35 PM
#438   Almost time to add Porterhouse10 11/26/21 06:49:12 PM
#437   RTX, Nice Dividend Grower As This Shows bar1080 08/30/21 08:25:39 AM
#436   um all time high was over $90 Nebuchadnezzar 08/13/21 11:25:37 PM
#435   $rtx continues to add new contracts, increases its Seeker213 07/25/21 08:18:13 AM
#434   ??? This a.m report leaked out they are I-Man 07/07/21 09:27:05 AM
#433   RTX one of the best buys I made Nebuchadnezzar 06/23/21 09:42:49 AM
#432   All-time high for Raytheon at $89 bar1080 06/01/21 05:52:23 PM
#431   "Raytheon...Announces 7 Percent Quarterly Rate Increase" bar1080 04/26/21 08:12:11 AM
#430   $rtx $78.0 ^ 0.47 (0.61%) Taurus69 03/27/21 10:01:08 PM
#429   $rtx $73.7 v -3.97 (-5.11%) Taurus69 02/25/21 04:48:21 PM
#428   Sitting on support here at 75.75 SidewaysTrader 02/25/21 10:18:46 AM
#427   This run is probably due to stock buy Butchmass 02/24/21 02:56:41 PM
#426   $rtx $75 with news Taurus69 02/23/21 04:48:03 PM
#425   $rtx $73.49 ^ 0.49 (0.67%) Taurus69 02/23/21 04:47:18 PM
#424   $rtx $72.33 v -0.35 (-0.48%) Taurus69 02/06/21 06:19:32 PM
#423   $rtx $69.0 v -1.94 (-2.73%) Taurus69 01/16/21 11:42:19 PM
#422   I was to work for Raytheon some years I-Man 12/30/20 07:39:29 AM
#421   $rtx $69.25 v -0.42 (-0.60%) Taurus69 12/22/20 06:58:33 PM
#420   $rtx $70.3 v -0.34 (-0.48%) Taurus69 12/19/20 07:05:24 PM
#419   $rtx $70.98 v -1.91 (-2.62%) Taurus69 12/14/20 10:40:52 PM
#418   $rtx $72.99 ^ 3.23 (4.63%) Taurus69 11/23/20 04:47:22 PM
#417   Raytheon Quarterly Dividends for Past Decade bar1080 11/10/20 08:34:54 PM
#416   $rtx $67.6 ^ 2.61 (4.02%) Taurus69 11/10/20 04:56:59 PM
#415   $rtx $57.5 ^ 1.75 (3.14%) Taurus69 11/03/20 10:47:32 PM
#414   $rtx $54.33 ^ 1.19 (2.24%) Taurus69 10/30/20 09:17:16 PM
#413   DOW pretty much is left with banks and I-Man 10/30/20 07:06:30 AM
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