United Tech seeks $1 billion for Goodrich deal

Jun 12, 2012

(AP) — United Technologies is attempting to raise $1 billion to help finance its purchase of aerospace parts manufacturer Goodrich Corp.

The industrial conglomerate said Tuesday in a regulatory filing that it will offer 20 million "equity units" at $50 each. The units will consist of shares and corporate debt due in 2022.

United Technologies, which owns jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses, said it wants to sell the equity units on the New York Stock Exchange.

Other financing for the $16.5 billion purchase of Goodrich, based in Charlotte, North Carolina, includes debt and the sale of several companies such as United Technologies' rocket and wind power businesses.

Shares of United Technologies Corp., based in Hartford, Connecticut, dropped 61 cents to $74.01.

Explore further: Nokia turnaround since handset unit sale continues

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Hyundai says it will not bid for Hynix stake

Jul 06, 2011

South Korea's Hynix Semiconductor Wednesday lost its sole potential buyer after shipmaking giant Hyundai Heavy Industries said it would not bid for a stake in the world's second-largest memory chip maker.

Microsoft prices $1.15B convertible debt sale

Jun 09, 2010

(AP) -- Microsoft Corp. has priced its $1.15 billion convertible debt offering to institutional investors, and said it will use the proceeds to pay down short-term debt.

Warner to sell entire company, near agreement

Apr 14, 2011

Warner Music Group Corp. is seeking to sell the entire company, rather than parts of the business, and could agree on a buyer within weeks, The Wall Street Journal reported on Thursday.

India's Wipro shares sale gets lukewarm response

Mar 14, 2012

An auction of India's Wipro shares by a trust controlled by its founder and chairman Azim Premji received bids for just under two-thirds of its offer size, stock exchange data showed late Wednesday.

Recommended for you

Nokia turnaround since handset unit sale continues

5 hours ago

Nokia appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. ...

Yahoo CEO defends strategy in face of criticism

5 hours ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

Sk Hynix logs all-time high Q3 earnings

5 hours ago

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

User comments : 0