Raytheon and United Technologies announce merger

Raytheon and United Technologies announced on Sunday that they will merge, creating a behemoth American aeronautics and defense company.The new company, Raytheon Technologies Corporation, will be created via an exchange of shares between the two firms, with the merger expected to conclude in the first half of 2020, they said in a joint statement.Raytheon is best known for its Patriot air defense systems, which gained fame during the first Gulf War, and its Tomahawk cruise missiles, often the fir