An aerospace giant with research facilities on the South Coast has announced it will merge with a major competitor. Raytheon and United Technologies will merge their aerospace businesses in an all-stock transaction.
The combined company would have more than $70 billion dollars in annual aerospace and defense industry sales.
Raytheon has had research facilities in the Goleta area for decades.
Plans call for the merger to close in 2020. Wall Street observers say the move make sense, and that the new company would have great synergy, but President Trump has expressed concern that it would create a near monopoly.
United is separating its Otis elevator business, and Carrier heating and air conditioning operations into separate companies.