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Fri, Sep 01, 2017

United Technologies Closing In On Deal For Rockwell Collins

Negotiations Have Been Underway For More Than A Month

After making an initial offer to buy aircraft component manufacturer Rockwell Collins more than a month ago, United Technologies is now reportedly close to a deal to finalize the acquisition.

Reuters reports that while the two sides have not publicly mentioned a dollar amount for the transaction, the Wall Street Journal has pegged the purchase price at up to $140 per Rockwell Collins share.

Neither company would comment on the negotiations.

United Technologies owns Pratt & Whitney, along with companies that make aircraft seats, lavatories and other fixtures for commercial airliners. Rockwell Collins is a well-known name in avionics, and recently expanded its avionics offerings with an aircraft data networking service known as FOMAX. It will be in operation aboard new Airbus A320s beginning in 2018. A deal with UT could make it easier for Rockwell to enter the "connected aircraft" market that is becoming more prevalent in the industry. The technology allows aircraft to transmit and track data about aircraft systems, routes and weather for increased efficiency.

A source with knowledge of the negotiations said a deal could be announced as early as next week.

In 2015, United Technologies sold Sikorsky Helicopter to Lockheed Martin with net proceeds of about $6 billion.

FMI: www.utc.com, www.rockwellcollins.com

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