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Trump voices concerns about RTN-UTX merger

Jun. 10, 2019 9:33 AM ETUnited Technologies Corporation (UTX), RTNUTX, RTXBy: Yoel Minkoff, SA News Editor107 Comments
  • "I'm a little concerned about United Technologies (UTX +1.9%) and Raytheon (RTN +1.7%)," President Trump said in an exclusive interview with CNBC.
  • Airline companies have "all merged in so it's hard to negotiate" with them, he added, suggesting the defense industry could be heading in the same direction.
  • "I just want to see competition. They’re two great companies, I love them both. But I want to see that we don’t hurt our competition... It's already not competitive."
  • Meanwhile, United Tech CEO Greg Hayes said he's looking forward to talking with President Trump later today about the proposed merger and expects to secure regulatory approval for the deal by the first quarter of 2020.
  • Update (10:00 a.m. ET): UTX shares have turned lower on the news, now down by 0.8%, while RTN pared gains, up by only 1%.

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