United Technologies Corp (UTX.N) is lining up $10 billion to $20 billion in financing for a U.S. acquisition that could shape up as its biggest takeover in a decade, said people with direct knowledge of the matter. Investors immediately bid up shares of smaller aerospace suppliers Goodrich Corp (GR.N), Rockwell Collins Inc (COL.N) and Textron Inc (TXT.N) on Friday betting that the diversified U.S. manufacturer could purchase one of them and kick-start a wave of consolidation in the aerospace and defense sector. Goodrich, which is benefiting from rising demand for equipment for large commercial aircraft, makes the most strategic sense for United Tech, according to people familiar with the industry but not directly involved in the deal. Its chief executive, Marshall Larsen, is preparing to retire in the next couple of years. Shares of Goodrich rose 7.4 percent on the NYSE, giving it a market value of $11.6 billion. The stock surged another 21 percent after-hours on increasing speculation that Goodrich is United Tech's most likely target.
United Technologies Corporation (UTC) is a provider of technology products and services to the building systems and aerospace industries worldwide. Shares of UTX fell by 0.15% or $-0.11/share to $75.50. In the past year, the shares have traded as low as $67.12 and as high as $91.83. On average, 5658730 shares of UTX exchange hands on a given day and today's volume is recorded at 8955364.
Goodrich Corporation (Goodrich) is a supplier of aerospace components, systems and services to the commercial and general aviation airplane markets. Shares of GR traded higher by 7.41% or $6.41/share to $92.89. In the past year, the shares have traded as low as $69.53 and as high as $99.67. On average, 1440610 shares of GR exchange hands on a given day and today's volume is recorded at 4998929.
Rockwell Collins, Inc. (Rockwell Collins) is engaged in the design, production and support of communications and aviation electronics for commercial and military customers worldwide. Shares of COL traded higher by 7.81% or $4.07/share to $56.21. In the past year, the shares have traded as low as $43.82 and as high as $67.29. On average, 1800600 shares of COL exchange hands on a given day and today's volume is recorded at 9228477.
Textron Inc. is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services globally. Shares of TXT traded higher by 6.76% or $1.18/share to $18.63. In the past year, the shares have traded as low as $14.66 and as high as $28.87. On average, 6144170 shares of TXT exchange hands on a given day and today's volume is recorded at 17957326.
