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Home / Business / President Trump is concerned that the merger of United Technologies and Raytheon will destroy competition

President Trump is concerned that the merger of United Technologies and Raytheon will destroy competition



In an interview on Monday, Trump expressed his concern over the merger, which would lead to an aerospace and defense powerhouse, and said it could kill competition.

"I'm a little worried about United Technologies ( UTX ) and Raytheon ( RTN ) Trump expressed concern that many defense companies had joined forces in the past, adding that it is more difficult for the US to negotiate products such as airplanes when there are fewer companies to choose from.

The merger of UTC and Raytheon raises the question: "Will that remove more competition?" Trump said, adding that there is some overlap between the companies' products, according to his understanding.

Gregory Hayes and Thomas Kennedy, CEOs of United Technologies and Raytheon, said in a subsequent CNBC interview titled "Squawk Box" that [1

9659006] there is no overlap in the products which means the Zusamme is not anti-competitive.

Market analysts said they had no regulatory or antitrust issues with the merger.

"Yes, Stifel analysts Joseph DeNardi and Jonathan Ladewig announced they would merge into a" merger of the likes "late on Sunday, and the combined company, named Raytheon Technologies Corporation, will generate sales of around 74% Its combined market value is approximately $ 166 billion.

The merger will take place just months after UTC's announcement to outsource the Otis lifts business and the Carrier Building Systems division not returned immediately.

UTC shares fell 1% shortly after opening on Monday, while Raytheon shares gained 1%.


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