Trump ‘A Little Concerned’ About Raytheon Merger

A United Technologies Raytheon merger has long been speculated on by analysts and investors

The United-Raytheon deal is expected to close in early 2020, after United's non-aerospace businesses take flight, Reuters reported.

Mr Trump praised both companies and said he hoped a deal can be done, but warned: "I don't want to see where we have one less person that can compete for an order".

A United Technologies-Raytheon merger has always been speculated on by analysts and investors as the two companies operate mainly in different segments, meaning a deal is likely to attract less scrutiny from regulators than other mergers between big defense players.

The UTX-RTN merger will create the world's second-largest aerospace and defense company after Boeing in terms of annual revenues.

Trade tensions between the United States and China were blamed at least partly by analysts for that delay, but a source close to the deal said the companies did not expect this to be repeated because Raytheon does not do business in China.

Hayes will hold the CEO job in the combined organization, while Raytheon CEO Thomas Kennedy will become the executive chairman.

Another wildcard in winning approval for the deal: the U.S. Department of Defense.

"Less than 1 percent of our sales have overlap", he said. "With our enhanced capabilities, we will deliver value to our customers by anticipating and addressing their most complex challenges, while delivering significant value to shareowners". "We truly believe we're going to get this done relatively quickly".

A model of the Patriot anti-missile system is seen at Raytheon's exhibition center at the Farnborough aerospace show, in Farnborough, 2008. It also provides the electronic tolling system used on the Massachusetts Turnpike and other roads around the world.

United Technologies shareholders will own about 57 per cent of the combined business, called Raytheon Technologies Corporation, which will be led by Hayes. Under pressure from investors, he proposed the spinoffs of Otis and Carrier. Connecticut-based United Technologies was founded in 1934 and makes products for the aerospace and building sectors, including airplane engines and spacesuits. The report identified 300 instances in which important weapons components such as large gun barrels and submarine propeller shafts that are produced by just one company, by a "fragile" supplier that may be unable to meet demand, or by a foreign supplier.

In the commercial aviation space, the combined company will focus on developing next-generation connected airspace, cyber protection for connected aircraft, and advanced analytics and artificial intelligence.

Echoing concerns that top Pentagon procurement officials have raised for years, the president said he is anxious that the deal would harm the military supply chain by giving government buyers fewer competitive options to turn to for individual weapons systems.

Related News:

  • Quarterbacks at the ready: Madden 20 beta is coming June 14

    Quarterbacks at the ready: Madden 20 beta is coming June 14

    Development traits system also got an overhaul, in particular, the addition of Superstar and Superstar X Factor abilities. Aaron Donald was part of the "99 Club" in " Madden NFL 19 " past year , earning a 99 overall rating from developers.
    Doom Eternal Comes Out In November--Here's A New Look

    Doom Eternal Comes Out In November--Here's A New Look

    "I mean, there's so many good mysteries in Doom universe and we need to answer good questions, and then ask new good ones". In a fight to the death, the demons are capable of summoning additional reinforcements to help them in battle.
    Screenshots From FIFA 20's Volta Mode Shows How Amazing It Looks

    Screenshots From FIFA 20's Volta Mode Shows How Amazing It Looks

    An exclusive early trial of Federation Internationale de Football Association 20 and other EA Games before the full launch day. As a bonus, those who pre-order** before August 5, 2019 will also receive an untradeable FUT 20 Ones To Watch Player item.
  • Nadler says deal struck with Justice Dept. over Mueller report evidence

    Nadler says deal struck with Justice Dept. over Mueller report evidence

    He became a household name during the Watergate era, when as White House counsel he agreed to help prosecutors. Barr defied a subpoena to provide an unredacted version of Mueller's report, along with underlying evidence.
    Justin Bieber challenges Tom Cruise to MMA fight

    Justin Bieber challenges Tom Cruise to MMA fight

    Perhaps Bieber simply watched a movie starring Cruise, saw a fight scene, and thought, "Hey, I could take him". Back when mark wahlberg was marky mark, I'd've still slapped the ears off him and took my ufc shares back.
    Fallout 76 updates promise turnaround after

    Fallout 76 updates promise turnaround after "well-deserved criticism"

    One of the big criticisms of Fallout 76 at its launch was that its game world largely felt empty despite being filled with people. The free fall update is also promising "choice and consequences" and the requisite new gear and guns.
  • Motorcyclist dead after lightning strike near Daytona Beach

    Motorcyclist dead after lightning strike near Daytona Beach

    A motorcyclist has died after he was struck by lightning while riding on the I-95 inter-state highway in Florida . Reports confirmed that the victim was from North Carolina , but his name has yet to be released to the public.
    Men and ‘Secret Life of Pets’ underperform at a gloomy box office

    Men and ‘Secret Life of Pets’ underperform at a gloomy box office

    It's a shame, to be sure, but let's not forget that the X-Men will eventually be integrated into the Marvel Cinematic Universe. And in fifth was Paramount's Rocketman , the biopic about singer Elton John, at US$14 million.
    German FM in Iran to try ease Tehran-Washington tensions

    German FM in Iran to try ease Tehran-Washington tensions

    But Abe, whose nation relies heavily on Mideast crude oil to power its economy, already has acknowledged the challenge. So far, the European Union has done nothing to save the 2015 nuclear agreement, Iran said , according to BTA.
  • Pelicans open to multi-team trade involving Davis

    Pelicans open to multi-team trade involving Davis

    Davis, 26, requested a trade in January - with the Lakers as a primary destination - but negotiations never gained traction. For now, a Davis trade looms as a premium free-agent recruiting tool for those big-market teams engaged with New Orleans.
    China's exports beat forecast to rise as trade war heats up

    China's exports beat forecast to rise as trade war heats up

    The slump could be partially triggered by a decline in shipments from the U.S. , and weakening domestic demand. During the first five months of this year, rare earth exports dropped 7.2 percent year-on-year to 19,266 tons.
    Yuvraj Singh announces his retirement from global  cricket

    Yuvraj Singh announces his retirement from global cricket

    He has left behind his glory days behind playing his last Test in 2012 while his last ODI and T20 came in 2017. In a group stage match, he scored 68 runs against New Zealand and also took four wickets.

Most liked

Bruno Fernandes signing ‘very close’
Fernandes, 24, is hot property after scoring 32 goals in 53 appearances in all competitions this season, while providing a further 18 assists.

Donald Trump defends Mexico tariff threats: 'We got everything we wanted'
It also wants curbs on subsidies for Chinese state-owned enterprises and better access for USA firms in Chinese markets. Last week Powell opened the door to a cut if trade tensions cause USA businesses to cut back on investment and hiring.

Helicopter crash-lands on Midtown NYC office building, 1 killed
The fire has since been extinguished, the New York Police Department said . "There may have been casualties involved", he added. Police advised people to avoid the area of West 51st Street and Seventh Avenue due to the "ongoing police investigation".

Trump Highlights Hypocrisy With Complaints About Pelosi's Prison Comments
The president contended, as he frequently does, that Congress is not willing to help him address the problem. Ahead of his D-Day speech in Normandy, France, on Thursday, Donald Trump sat down with Laura Ingraham .

The Next Tales of Game Has Leaked Ahead of E3 2019
New details from Tales of Arise have been leaked along with From Software's collaboration with Game of Thrones author George R.R. What's this? Yet another game leaked ahead of its announcement at E3 2019? Stay tuned for more information on these titles!

London firefighters combat apartment building blaze
It is not yet known what caused the fire. "The fire brigade came but they found it hard to find a water supply at first". At least 10 firefighters and 15 fire engines are now on the scene battling the huge inferno in De Pass Gardens, Barking.

Woman on Pak airlines flight mistakes emergency exit for toilet
The flight Islamabad bound PK-702 which was about to take off from Manchester was delayed for seven hours owing to the incident. Reportedly the plane was on the runway at the Manchester Airport when she pressed the button which opened the emergency door.

Biden leads tighter top tier in Iowa
The California senator Kamala Harris was the only other candidate to poll above 5%, with half as much support as Buttigieg. Trump for failing to fulfill the promises he made in 2016 to protect health care and fight for the middle class.

New Cyberpunk 2077 Gameplay, Release Date Revealed At E3 2019
Now it turns out that Sark will be receiving a free copy of the collector's edition for Cyberpunk 2077 , courtesy of CDPR. Someone pointed out that Reeves's introduction to the gaming world means that he could, someday, be in Super Smash Bros .

Bethesda open the streaming floodgates with new Orion tech
This streaming software works on the game engine level, reducing latency and facilitating game streaming on lower bandwidths. And to really show what Orion's made of, Altman and Duffy showed off a live demo of Orion-enabled Doom (2016) on stage.

PG&E shutting power to some in California because of fire risk
The state's electricity providers have been given authority to shut off power when fire risk is extremely high. The company also may cut power to 30,000 customers in Butte, Yuba, Nevada, El Dorado and Placer counties .

Trump Wins One on Immigration
Mexico's ambassador in Washington nonetheless said her country is committed to working with the US and that discussions will continue.

Flooding risk for Peterborough as Met Office issues rain weather warning
Rain and thunderstorms will be particularly intense across southern and eastern parts of England over the next few days. Also, pay attention to the weather if you have any outdoor plans this afternoon and evening, especially after 2 p.m.

Star Wars Jedi: Fallen Order trailer commandeers an AT-AT
Cal is accompanied by BD-1, his trusty and very agile Buddy Droid that can open doors and even heal him when his health is low. The new trailer sheds more light on the Titanfall creator's take on Star Wars , bringing in new friends and familiar faces.

India take on Australia amid M.S. Dhoni’s glove controversy
And ahead of the crucial encounter between the two teams, Virat Kohli & Co met the High Commissioner of India to the UK, Mrs. Kohli, who was fielding at mid-wicket then, looked up and made a folded hand sign, before asking them to cut it out again.