United Technologies Corp (UTX.N) has reached a $16.4 billion cash deal to acquire aircraft components maker Goodrich Corp (GR.N), the Wall Street Journal said in its online edition on Wednesday, citing a source familiar with the matter. United Tech is paying $127.50 a share for Goodrich, the report said, a 47 percent premium over the stock's closing price last Thursday, before Reuters first reported that negotiations were underway. United Tech plans to sell $4.2 billion in stock and suspend share repurchases through next year to maintain its credit rating, the Journal said. JPMorgan Chase (JPM.N) is leading a $15 billion loan package for the deal, with HSBC Holdings (HSBA.L) and Bank of America Corp (BAC.N) also involved in the financing, the paper reported.
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 1.5% or $-1.14/share to $74.87. In the past year, the shares have traded as low as $67.12 and as high as $91.83. On average, 5761180 shares of UTX exchange hands on a given day and today's volume is recorded at 6968779.
Goodrich Corporation (Goodrich) is a supplier of aerospace components, systems and services to the commercial and general aviation airplane markets. Shares of GR fell by 2.08% or $-2.33/share to $109.49. In the past year, the shares have traded as low as $70.39 and as high as $114.50. On average, 1929910 shares of GR exchange hands on a given day and today's volume is recorded at 6224981.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 5.92% or $-1.91/share to $30.34. In the past year, the shares have traded as low as $30.26 and as high as $48.36. On average, 42967400 shares of JPM exchange hands on a given day and today's volume is recorded at 57429560.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 7.54% or $-0.52/share to $6.38. In the past year, the shares have traded as low as $6.01 and as high as $15.31. On average, 260856992 shares of BAC exchange hands on a given day and today's volume is recorded at 382535584.
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