Log in to use our free company, program and sector update tracker feature.

Front page

United Technologies buys Goodrich for $18.4 billion

United Technologies said late Wednesday it has struck a deal to acquire Goodrich at a 16% premium to the stock's latest close.

United Technologies said it is paying $127.50 per share in cash to buy Goodrich. The deal totals $18.4 billion, including $1.9 billion in net debt. United Technologies said it expects finance the deal with debt and equity issuance, with the equity component likely 25% of the total.

Shares of Goodrich finished Wednesday's session at $109.49 and traded around $122 at 8 p.m. ET before the deal was officially announced.

United Technologies is an industrial systems and aerospace giant with a market cap around $68 billion. The company manufactures everything from elevators and escalators to helicopters and fuel cells. Goodrich is primarily an aerospace company and manufactures aircraft landing systems and electronic systems.

United Technologies expects the transaction will be accretive to earnings in the second year. United Technologies also reaffirmed its expectations for 2011 revenues of approximately $58 billion, earnings per share in the range of $5.35 to $5.45.

The deal announcement is not a surprise, after The Financial Times reported earlier this week that United Technologies would spend about $15 billion to buy Goodrich.

Press release issued by UTC Aerospace Systems on September 21, 2011


 Contact details from our directory:
UTC Aerospace Systems Engine Health Monitoring, Thrust Reversers, Telemetry Equipment, Proximity Sensors, Engine Pylons, Nacelles, Ice Detectors, Cabin Heaters, Fuel Quantity Indicators, Fuel Tanks & Systems, Aircraft Interior Lighting Systems, Aircraft Security Equipment, Aircraft Exterior Lighting Systems, Fuel Control Systems, Engine Controls, Electrical Actuators, Ice Protection/Prevention Equipment, Cargo Systems, Crew Seating, Sensors/Transducers, Avionics Management Systems, Aircraft Structural Components, Aircraft Wheels, Aircraft Landing Gear, Electrical Brakes, Coatings, Aircraft & Helicopter Controllers, Fire Fighting/Detection Systems, Emergency Generators, Airborne Electrical Power Supplies
United Technologies Corporation


 Related directory sectors:
Warning Systems
Structural Components
Sensors, Transducers & Detectors
Safety & Security Systems
Mechanical Components
Landing Assemblies
Indicators and Instruments
Fuel Systems
Flight and Data Management
Environmental Systems
Engine Components
Crew Seating
Communications (Airborne)
Cargo Systems

Enhanced listings:

Ascent Aerospace
Ascent Aerospace is the leading provider of aerospace tooling systems, assembly automation and factory integration.

The leading engineering technology organization in North America dedicated to developing, testing and implementing manufacturing technologies for industry.

ESPEC North America Inc. | Qualmark
Qualmark is your industry leading manufacturer and partner for accelerated reliability testing, HALT and HASS, for all commercial and defense avionics.

Indestructible Paint Ltd
A developer and manufacturer of specialist, technology coatings to support the lifetime of aviation, defence and general industry.

MW Industries, Inc
Design and manufacture springs, fasteners and related products for aerospace including: engine components, flight controls, propulsion, landing gear, interiors and avionics.

See our advertising tariff.


Monthly page limit exceeded. Please buy a subscription.

© Airframer Limited, operated under licence by Stansted News Limited 2018. Terms & Conditions of reading. Privacy policy