The deal is termed a merger of equals. It will be based at Raytheonís offices but Greg Hayes, United Technologiesí CEO, will run it. UTC shareholders will have 57% of the new company. The merged entity will be the second-largest defense contractor after Boeing, passing Lockheed-Martin.
War remains a very good business, an enormous source of jobs and a technology driver. The only risk in this deal is that peace breaks out. That seems unlikely.
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