Goodrich Corp. [GR] yesterday said that its shareholders have approved an $18.4 billion sale of the company to United Technologies Corp. [UTX] in a deal that is still expected to close by the middle of this year.
Goodrich said that more than 98 percent of the votes cast favored the merger, representing about 75 percent of the total outstanding shares of the company’s common stock.
UTC is paying $127.50 in cash for each share of Goodrich for a total enterprise value of $18.4 billion, including about $1.9 billion in net debt.