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, U.K.in 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.

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