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United Technologies Corporation (UTX)

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  • Fri, Mar. 13, 3:52 AM
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  • Jul. 18, 2013, 10:09 AM
    Talks about diversification: Washington Post (WPO) agrees to acquire Forney, a provider of products and systems for power and industrial boilers, from United Technologies (UTX) for an undisclosed amount. The deal adds to Washington Post's purchase last year of Celtic Healthcare and is part of the company's "ongoing strategy to invest in companies with "demonstrated earnings potential and strong management teams." Which sounds right out of the playbook of long-time Washington Post shareholder Warren Buffett. (PR)
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  • Jan. 18, 2013, 4:08 PM
    United Technologies (UTX +0.5%) finishes the day in the green after announcing earlier that it's reached an agreement to sell its former Goodrich pump and engine control systems business to Triumph Group (TGI +3.8%). The deal is expected to close in Q113. The sale of the unit was one of the divestitures required by regulatory authorities as a condition of UTX's acquisition of Goodrich Corporation.
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  • Dec. 6, 2012, 5:20 PM
    United Technologies (UTX) terminates its agreement to sell its pump and engine control systems business to TransDigm (TDG), citing DoJ objections to the transaction. Sale of the pump and engine control systems unit is one of the divestitures required as a condition of UTX's acquisition of Goodrich Corporation. UTX intends to comply with its obligation to sell the business to a buyer acceptable to the DoJ and European Commission. Any proposed transaction continues to be subject to regulatory approvals in the U.S. and other jurisdictions.
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  • Oct. 25, 2012, 3:55 PM
    Transdigm Group (TDG +2.5%) agrees to acquire Goodrich's pump and engine control systems business from United Technologies (UTX -0.7%) for ~$236M. The business expects ~$195M in 2012 revenues with EBITDA in the low teens as a percent of revenue.
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  • Oct. 16, 2012, 7:15 AM
    Continuing to try and erase much of the debt it took on for the Goodrich acquisition, United Technologies (UTX) unloads Goodrich's electric power systems business to Safran (SAFRY.PK) for $400M. The deal is subject to regulatory approval in the U.S., EU, and China. (PR)
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  • Oct. 5, 2012, 5:24 PM
    GenCorp (GY) and United Technologies (UTX) have received requests for additional information from the FTC in connection with GY's proposed acquisition of the Rocketdyne division of UTX. The requests extend the waiting period during which the parties may not close the acquisition until 30 days after both companies have complied with the requests. GY now expects to close the acquisition in H113.
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  • Jul. 26, 2012, 1:53 PM
    United Tech (UTX +0.25%) closes its $16.5B acquisition of Goodrich after earlier saying it had received conditional U.S. and EU regulatory approval. The deal will add around $8B to United Tech's annual revenues and strengthen its presence on Boeing and Airbus jets.
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  • Jul. 26, 2012, 10:28 AM
    EU and U.S. authorities conditionally approve United Tech's (UTX +1.7%) $16.5B acquisition of Goodrich, with United Tech required to sell some power generation and aircraft engine controls operations. The company must also give Rolls Royce an option to buy its lean-burn fuel-nozzle R&D project. (PR)
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  • Jul. 26, 2012, 9:00 AM
    More on United Tech (UTX +0.5%) Q2: net profit +1% to $1.33B. China's slowing economy and Europe's debt crisis reduce demand for UTX's elevators and jet engine parts. Cuts FY EPS guidance to $5.25-$5.35 from $5.30-$5.50 prior, and sales forecast to $58B-$59B from $61B-$62B. Consensus is for $5.45 and $61.29B. Expects to receive final Goodrich approval today. (See also)
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  • Jul. 25, 2012, 7:27 PM
    United Technologies (UTX) agrees to sell its Hamilton Sundstrand industrial products businesses to BC Partners and The Carlyle Group (CG) for $3.46B. UTX put the pump unit on the block, along with three other non-core assets, as part of a plan to repay a portion of the short-term debt incurred to finance its $16.5B acquisition of Goodrich Corporation (GR).
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  • Jul. 24, 2012, 4:28 AM
    Carlyle Group (CG) and BC Partners are in joint talks to buy United Tech's (UTX) industrial businesses, according to sources. The talks, already in an advanced stage, could culminate in a deal worth more than $3.5B. There's an outside chance United Tech could turn to other suitors like TPG Capital.
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  • Jul. 23, 2012, 8:26 AM
    United Tech (UTX -1%) agrees to sell its Rocketdyne unit to GenCorp (GY) for $$550M as United Tech works to sell non-core units and focuses on closing its $16.5B Goodrich acquisition. United Tech will use the money from the sale to repay some of the debt it took to buy Goodrich. (PR)
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  • Jul. 19, 2012, 3:11 AM
    United Technologies (UTX) is in final discussions to sell its Rocketdyne business to Gencorp (GY), sources say, as United Tech works to divest non-core units and focuses on closing its Goodrich acquisition. A deal could be finalized late this week or early next.
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  • Jul. 6, 2012, 6:20 AM
    The EU is poised to approve United Technologies' (UTX) $16.5B acquisition of Goodrich after United Tech agreed to sell several Goodrich assets, Reuters reports. The assets include electrical power generation ops in the U.S. and U.K., and U.S. engine control activities.
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  • Jun. 18, 2012, 5:36 PM
    United Technologies (UTX) is looking to sell its Pratt and Whitney power generation assets in a deal that could fetch ~$1B, Reuters reports. The potential sale is part of UTX's effort to focus more on its aerospace and propulsion segments and move away from businesses not seen as core. The sale reportedly could occur after UTX closes its planned $16.5B purchase of Goodrich (GR).
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Company Description
United Technologies Corporation provides high technology products and services to the building systems and aerospace industries. Its business segments are Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems and Sikorsky.
Country: United States