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‘Bullish On Aerospace,’ UTC To Acquire Goodrich For $18.4 Billion

Defense Daily Staff Defense Daily Staff
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After word of the deal began leaking earlier this week, United Technologies [UTX] on Wednesday night said it has agreed to acquire aerospace and defense company Goodrich Corp. [GR] for $127.50 a share in cash, representing an enterprise value of $18.4 billion that includes $1.9 billion in assumed debt. About 70 percent of Goodrich’s $8 billion in sales are in the aerospace sector, which UTC officials said yesterday is in the early stages of an “up-cycle” that has long-term potential…

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