United Technologies and Raytheon have received regulatory approval from the DOJ on the condition that they sell off certain divisions.
“The combination of United Technologies and Raytheon will define the future of aerospace and defense. Our two companies have iconic brands that share a long history of innovation, customer focus and proven execution. By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers’ highest priorities.”
Greg Hayes, United Technologies Chairman and CEO
This regulatory approval has cleared a major roadblock in creating one of the world’s largest defense contractors and it follows the EU approval earlier this month.