Raytheon and United Technologies Corp. (UTC) have notified the US Securities and Exchange Commission (SEC) that they will convene special stockholder meetings next month to hold votes on their proposed merger.
According to a 4 September filing with the SEC, Raytheon and UTC have both scheduled their meetings for 11 October at 8 am Eastern time. Raytheon stockholders will gather in New York City, while UTC's will assemble in Palm Beach Gardens, Florida.
The two US defence contractors announced the proposed merger in June, saying it will "offer a complementary portfolio of platform-agnostic aerospace and defense technologies." The boards of both companies have already approved forming the new company, which will be called Raytheon Technologies and have combined sales of about USD74 billion.
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