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UTX

United Technologies

$104.49 /

+8.485 (+8.84%)

, RTN

Raytheon

$154.91 /

+10.41 (+7.20%)

18:14
03/26/20
03/26
18:14
03/26/20
18:14

DOJ requires divestitures in United Tech, Raytheon merger

The Department of Justice announced that it is requiring United Technologies Corporation (UTX) and Raytheon Company (RTN) to divest Raytheon's military airborne radios business and UTC's military global positioning systems and large space-based optical systems businesses in order to proceed with their proposed merger. Without these divestitures, the merger would eliminate competition between two of the primary suppliers of military airborne radios and military GPS systems to the Department of Defense, and enable the merged firm to lessen competition for multiple components used in reconnaissance satellites sold to DoD and the wider U.S. intelligence community. The department's Antitrust Division filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia to block the proposed merger. At the same time, the Antitrust Division filed a proposed settlement that, if approved by the court, would resolve the competitive harm alleged in the lawsuit. "Today's settlement protects the American taxpayer by preserving competition that leads to lower costs and higher innovation in critical military and defense products," said Assistant Attorney General Makan Delrahim of the Antitrust Division. "The merger, as originally proposed, would have eliminated competition in the supply of military airborne radios and military GPS systems, and would have positioned the merged firm to harm rivals capable of making key components for reconnaissance satellites. These horizontal and vertical concerns are resolved by the Division's structural remedy, which includes the divestiture of three separate business units."

UTX

United Technologies

$104.49 /

+8.485 (+8.84%)

RTN

Raytheon

$154.91 /

+10.41 (+7.20%)

UTX United Technologies
$104.49 /

+8.485 (+8.84%)

03/23/20 JPMorgan
United Technologies recent share weakness overdone, says JPMorgan
03/05/20 Cowen
United Technologies price target lowered to $150 from $169 at Cowen
02/24/20 Credit Suisse
United Technologies price target lowered to $172 from $177 at Credit Suisse
02/04/20 Gabelli
General Electric Q4 results confirm positive trajectory, says Gabelli
RTN Raytheon
$154.91 /

+10.41 (+7.20%)

02/19/20 Alembic Global
Raytheon downgraded to Neutral from Overweight at Alembic Global
01/31/20 Credit Suisse
Raytheon price target raised to $257 from $235 at Credit Suisse
01/29/20 Argus
United Technologies price target raised to $170 from $155 at Argus

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ZM

Zoom Video

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Hot Stocks
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