FILE PHOTO: A sign marks the Raytheon offices in Woburn
More(Reuters) - Raytheon Co and United Technologies Corp are in talks to merge in an all-stock deal, the Wall Street Journal reported on Saturday, citing a person familiar with the matter.
The combination, expected to be billed as a merger of equals, would not affect United Technologies' existing plans to spin off its Otis elevator and Carrier building-systems businesses into separate companies, the report said.
United Technologies Chief Executive Greg Hayes is expected to lead the combined company, while Raytheon CEO Thomas Kennedy would be chairman, the report said.
The companies could announce a deal in the coming days, the report said.
Raytheon and United Technologies did not immediately respond to Reuters' request for comment outside of regular business hours.
(Reporting by Rama Venkat in Bengaluru; Editing by Leslie Adler and Meredith Mazzilli)
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