It's been talked about for so long, it's almost amazing that it actually happened, it being the merger of United Technologies (UTX) and Rockwell Collins (COL).
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Reports of a potential Rockwell acquisition started dribbling out in early August, and continued into the end of the month. And now it's a done deal: United Technologies has agreed to buy Rockwell Collins for $TK billion, or $140 a share.
Canaccord Genuity's Ken Herbert explains why United Technologies need to make this deal:
Shares of United Technologies have dropped 4% to $113.25 at 10:28 p.m. today, while Rockwell Collins has advanced 0.7% to $131.58, Boeing has dropped 0.9% to $238.28, and Airbus is little changed at $21.16.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
