On Tuesday, The Wall Street Journal reported that United Technologies Corp. is nearing a deal to scoop up Rockwell Collins Inc. for over $20 billion.
If completed, the deal would create one of the world’s largest aircraft-equipment manufacturers.
The Journal reported that United and Rockwell are considering an acquisition deal worth no more than $140 per share, representing a 9.4% premium over COL’s Monday closing price of $127.99 per share and placing a $20.8 billion market value on Rockwell.
Shares of United Tech, which is known for selling jet engines, landing gear, and wheels, are gaining about 2% in afternoon trading, while Rockwell stock is up about 1.7%. Rockwell is a leading supplier of aviation electronics like cockpit displays and communications systems.
Bloomberg reported on a possible deal earlier this month, pointing out that a deal would allow aircraft manufacturers “greater heft” as companies like Boeing (BA - Free Report) and Airbus “squeeze suppliers for price reductions amid a planned production increase of narrow-body jetliners.”
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On Tuesday, The Wall Street Journal reported that United Technologies Corp. is nearing a deal to scoop up Rockwell Collins Inc. for over $20 billion.
If completed, the deal would create one of the world’s largest aircraft-equipment manufacturers.
The Journal reported that United and Rockwell are considering an acquisition deal worth no more than $140 per share, representing a 9.4% premium over COL’s Monday closing price of $127.99 per share and placing a $20.8 billion market value on Rockwell.
Shares of United Tech, which is known for selling jet engines, landing gear, and wheels, are gaining about 2% in afternoon trading, while Rockwell stock is up about 1.7%. Rockwell is a leading supplier of aviation electronics like cockpit displays and communications systems.
Bloomberg reported on a possible deal earlier this month, pointing out that a deal would allow aircraft manufacturers “greater heft” as companies like Boeing (BA - Free Report) and Airbus “squeeze suppliers for price reductions amid a planned production increase of narrow-body jetliners.”
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month. Learn the secret >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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