United Technologies Strikes Deal to Acquire Raytheon

United Technologies Corp. struck an all-stock deal to acquire military contractor Raytheon Co., continuing the sprawling industrial conglomerate’s transformation into a company focused on aerospace and defense.

The combined company, valued at more than $100 billion after planned spinoffs, would be the world’s second-largest aerospace-and-defense company by sales behind Boeing Co., with annual revenue of roughly $74 billion this year.

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