UTC Looks To Raise Cash For Goodrich Deal
HARTFORD, Conn. (AP) – United Technologies is attempting to raise $1 billion to help finance its purchase of aerospace parts manufacturer Goodrich Corp.
The industrial conglomerate said Tuesday in a regulatory filing that it will offer 20 million “equity units” at $50 each. The units will consist of shares and corporate debt due in 2022.
United Technologies, which owns jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses, said it wants to sell the equity units on the New York Stock Exchange.
Other financing for the $16.5 billion purchase of Goodrich, based in Charlotte, N.C., includes debt and the sale of several
companies such as United Technologies’ rocket and wind power businesses.
Shares of United Technologies Corp., based in Hartford, Conn., dropped 61 cents to $74.01.
(Copyright 2012 by The Associated Press. All Rights Reserved.)