Raytheon Technologies successfully completed the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation on April 3, 2020, following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses. Headquartered in Waltham, Mass., Raytheon Technologies is one of the largest aerospace and defense companies in the world with approximately US$74 billion in pro forma 2019 net sales and a global team of 195,000 employees, including 60,000 engineers and scientists.
Raytheon Company shares ceased trading prior to the market open on April 3, 2020, and each share of Raytheon common stock has been converted in the merger into the right to receive 2.3348 shares of United Technologies common stock. Upon closing of the merger, United Technologies’ name has changed to “Raytheon Technologies Corporation,” and its shares of common stock started trading on April 3, on the NYSE under the ticker symbol “RTX.” United Technologies shareowners will continue to hold their shares of United Technologies common stock, which now constitute shares of common stock of Raytheon Technologies Corporation.