WASHINGTON (Reuters) – The U.S. Justice Department has approved United Technologies Corporation’s (N:) planned merger with Raytheon Co (N:), subject to conditions, the agency said on Thursday.
UTC agreed in June to combine its aerospace business with U.S. contractor Raytheon and create a new company worth about $121 billion (99.5 billion pounds), in what would be the sector’s biggest ever merger. It won EU antitrust approval earlier in March.
To win U.S. approval, the companies agreed to divest Raytheon’s military airborne radios business, including facilities in Indiana and Florida, and UTC’s military global positioning systems and big space-based optical systems businesses, including a facility in Connecticut.
The companies are the only Defense Department suppliers for military airborne radios and military GPS systems for air and sea, the Justice Department said.
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