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United Technologies, Raytheon to combine in all-stock 'merger of equals'
[Fox Business] United Technologies Opens a New Window. and defense contractor Raytheon Opens a New Window. agreed to merge in an all-stock deal described as a “merger of equals,” the companies announced on Sunday, creating a company with $74 billion in annual sales.

The new company will be named Raytheon Technologies Corporation. Currently, United Technologies has a market value of $114 billion while Raytheon’s is about $52 billion.
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