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What’s driving defense consolidation? Missile money

Tim Fernholz
What’s driving defense consolidation? Missile money

A spate of military-industrial consolidation in the US is being driven in part by a resurgence of spending on rocket weapons. This week, United Technologies and Raytheon announced a merger that would create a huge new space and defense conglomerate. Not everybody thinks the idea makes sense, including activist investor Bill Ackman.