United Technologies Corp. (NYSE:UTX) is raising as much as $20 billion through credit markets for a major U.S. acquisition, Reuters reported on Friday.
Citing two people with direct knowledge of the plan, Reuters said the sources declined to say what companies United Technologies might be targeting.
Continue Reading Below
A United Technologies spokesman could not immediately be reached for comment.
The Hartford, Conn.-based firm is a diverse high-tech conglomerate in the building and aerospace sectors.
The companys shares were down 58 cents, or 0.77%, at 75.03 in morning trading.