U.S. Markets close in 44 mins

Raytheon Stock Could Be in a ‘Holding Pattern’ Until It Merges With United Technologies

Connor Smith

United Technologies (ticker: UTX) and Raytheon (RTN) recently announced a merger, following the spinoffs of United Technologies’ Otis elevator and Carrier air-conditioning operations. United is offering 2.3348 of its post-spinoff shares for each Raytheon unit. The deal appeared odd to some, given investors were forced to estimate the worth of United Technologies’ aerospace business to value the acquisition.