Opening day set for Raytheon-UTC combo
By
Ross Wilkers
All regulatory approvals are now behind it, so the future "Raytheon Technologies" has set its first day of business as a new company.
With all regulatory approvals now out of the way, the company being formed out of the Raytheon-United Technologies Corp. merger plans to officially open for business on Friday.
Friday also is set to be day number one of Raytheon Technologies’ stock trading on the New York Stock Exchange under the ticker symbol “RTX,” plus the separate spin-offs of Carrier and Otis out of UTC to form two new companies.
Three outstanding items in particular remain on the to-do list for Raytheon Technologies management besides post-close integration activities. Two items involve BAE Systems’ U.S. subsidiary as it plans to pay nearly $2.2 billion to acquire the UTC military GPS business and Raytheon airborne radio unit.
The third item is that UTC still needs to find a buyer for its space optical business that antitrust regulators at the Justice Department are requiring the company to divest as a condition for the merger with Raytheon.