UTC Deal Reached to Acquire Goodrich
United Technologies Corp. agreed to buy aircraft-components maker Goodrich Corp. for $16.4 billion in cash, the company’s biggest-ever acquisition and a signature deal for Chief Executive Louis Chênevert.
The acquisition will strengthen United Technologies’ exposure to the commercial aviation business at a time when the industry’s order books are full, and it fulfills Mr. Chênevert’s desire to find a deal big enough to add measurably to a company that expects $58 billion in revenue this year.
It also sets United Technologies apart from other conglomerates like Tyco International Ltd., which announced plans this week to break into three companies. Tyco is betting the parts will be worth more than the whole, but United Technologies is moving in the opposite direction, believing it will win more business by offering a fuller menu of products to aircraft makers.
