The merger-of-equals transaction between Raytheon Company and United Technologies Corporation has closed, creating Raytheon Technologies Corporation, the world’s most advanced aerospace and defense systems provider.
Shearman & Sterling advised Raytheon on the transaction. Our role included advising Raytheon in connection with securing the necessary antitrust clearances and approvals for the transaction, which, as previously announced, required Raytheon to agree to divest its military airborne radios business to BAE Systems.
The transaction was the largest announced in 2019, valued at more than $120 billion.
Getting the transaction to the finish line required the expertise of a significant group of Shearman & Sterling lawyers, including our global Mergers & Acquisitions, Antitrust, Tax, Litigation, Compensation, Governance & ERISA, Intellectual Property, CFIUS and Environmental teams.
The Shearman & Sterling team included Lisa Raisner (Head of Government Relations), associate Kevin Wu (New York-Mergers & Acquisitions), and associate Matt Collins (New York-Corporate).