United Tech Raising Possible $20B for Deal: Report

By IndustrialsFOXBusiness

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.

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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.

Reuters cited aerospace suppliers Goodrich Corp (NYSE:GR) and Rockwell Collins Inc (NYSE:COL) as potential targets. Shares of both companies were up Friday on the news.

The companys shares were down 58 cents, or 0.77%, at 75.03 in morning trading.

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