Summary Box: United Technologies to buy Goodrich

AP News
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Posted: Sep 21, 2011 11:19 PM
Summary Box: United Technologies to buy Goodrich

BUYOUT DEAL: United Technologies Corp. has agreed to buy aerospace manufacturer Goodrich Corp. in a deal valued at $18.4 billion, including the assumption of $1.9 billion in debt.

TERMS: United Technologies is paying $127.50 a share in cash for Goodrich. The total deal value amounts to a 16 percent premium over Goodrich's closing stock price on Wednesday of $109.49.

OUTLOOK: The deal is expected to boost United Technologies' aerospace and defense business. The company now expects its global sales will be about $66 billion following the buyout, based on 2011 projected results.