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United Technologies Corp. (UTC) is acquiring Goodrich Corp. (NYSE: GR), a Charlotte, N.C.-based supplier of aerospace systems and services, for about $18.4 billion, the Hartford, Conn., company said in a news release. The $18.4 billion buyout price tag, which amounts to $127.50 per share, includes assumed debt of $1.9 billion.
As part of the acquisition, Goodrich chairman, president and CEO Marshall Larsen will take on the chairman and CEO role of a combined UTC aerospace systems business unit to be based in Charlotte.
Goodrich develops its technology for commercial and military aircraft. Among its products, the company makes landing gear, surveillance systems, electrical power systems, engine control systems, flight control and missile actuation, fuel management systems, de-icing systems and satellite and launch vehicle control systems.
UTC (NYSE: UTX) is a conglomerate of eight business units, which specialize in technologies ranging from heating and aerospace systems to fire and security protection systems. The company was founded in 1853 by elevator manufacturing pioneer Elisha Graves Otis.
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