United Tech says its expects Raytheon merger approval by 2020

As a follow up to the planned merger between United Technologies and Raytheon, the latter is very positive it will get approval.

Gregory Hayes, chief executive officer, United Technologies said in an analyst call that the merger would be approved early 2020.

Hayes was quoted by Reuters saying:

“I think from a regulatory standpoint, the beauty of this deal is there’s very little overlap…But really less than 10 jurisdictions have to approve this. We don’t have to go to China. We truly believe that we’re going to get this done relatively quickly.”

Earlier today, United Technologies and Raytheon announced a planned merger of their $121 billion company to become the second largest defense manufacturer.