UTX - Top Pentagon Official Has No Major Concerns With Raytheon-UTC Deal
A review of the planned merger between Raytheon (NYSE: RTN) and the aerospace business of United Technologies Corp. (NYSE: UTX) is proceeding smoothly, according to the Defense Department official responsible for procurement. The deal still has a number of hurdles to clear before it's completed, but the positive words are a significant step in the right direction for a transaction expected to face significant government scrutiny.
Ellen Lord, undersecretary for acquisition and sustainment at the Pentagon, said during a press briefing Aug. 26 of the Raytheon-UTC deal that "there are no major concerns that I know of right now."
Lord said the internal process to review the deal has been established, and the government is currently studying the information it has received in coordination with other agencies. The companies disclosed earlier this month that they received a request for additional information from the antitrust division of the U.S. Department of Justice, as part of its look at the deal.