June 10, 2019 / 6:55 PM / 8 days ago

Pentagon in talks with industry on United Technologies and Raytheon merger - statement

WASHINGTON (Reuters) - Pentagon leadership is engaging with industry leadership to understand the implications of the United Technologies Corp merger with Raytheon Co, a Pentagon official said on Monday.

“Under Secretary of Defense for Acquisition and Sustainment Ellen Lord is engaging with industry leadership to understand the implications and governance as a result of this acquisition,” the statement said. Lord is the chief weapons buyer for the Pentagon.

The $121 billion (£95 billion) deal, announced on Sunday and expected to close in the first half of 2020, would potentially upend the aerospace sector, creating a conglomerate spanning commercial aviation and defence procurement. The Pentagon would be one of the new company’s largest customers.

Reporting by Mike Stone; Editing by Nick Zieminski

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