Raytheon and United Technologies announced a merger Sunday in an all-stock deal that would create the second largest aerospace and defense company in the country.
The companies have combined annual sales of $74 billion.
United Technologies, which includes Collins Aerospace and Pratt & Whitney, makes jet engines, controls and seats. Raytheon is a large defense contractor.
The combined company will be called Raytheon Technologies. The merger is expected to close in the first half of 2020.
Cox Media Group
