CONTENT PREVIEW
Industry

US lawmaker seeks scrutiny of Raytheon-UTC merger

01 October 2019
Follow

The proposed merger between Raytheon and United Technologies Corporation (UTC) should receive "aggressive and penetrating scrutiny" by Congress, the Pentagon, and the US Justice Department due to its potential effect on national defence and local jobs, according to a US lawmaker.

Senator Richard Blumenthal, a Connecticut Democrat and a member of the Senate Armed Services Committee, said in a statement on 30 September that he is "troubled" that the merger of the two major US defence contractors might reduce competition and increase costs for defence products.

Blumenthal also expressed concern that the combined company, Raytheon Technologies, will be headquartered in Massachusetts, where Raytheon is currently based, and not in his state, which is UTC's current home.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes





(140 of 285 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT