Industrial conglomerate United Technologies Corp is reviewing the possibility of selling its flow and compressor businesses that could fetch a combined $3.5 billion, people familiar with the matter said.A sale of these businesses, which are part of United Tech's Hamilton Sundstrand unit, would help the company minimize the amount of shares it needs to sell to fund its largest-ever acquisition -- its planned purchase of Goodrich Corp for $16.5 billion.United Tech had initially planned to raise up to $4.6 billion in new shares to fund that deal.The company has been adamant about not selling any more stock than it has to for the Goodrich takeover and also intends to keep its credit rating. United Tech currently has an "A" credit rating from Standard & Poor's -- not top shelf, but solidly investment-grade.
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 0.2% or $-0.25/share to $125.35. In the past year, the shares have traded as low as $79.71 and as high as $125.88. On average, 1118360 shares of GR exchange hands on a given day and today's volume is recorded at 848224.
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 0.33% or $-0.28/share to $83.50. In the past year, the shares have traded as low as $66.87 and as high as $91.83. On average, 4632560 shares of UTX exchange hands on a given day and today's volume is recorded at 4509362.
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