LOS ANGELES (AP) — United Technologies Corp. says it has agreed to buy aerospace manufacturer Goodrich Corp. in a deal valued at $18.4 billion, including the assumption of $1.9 billion in debt.
The deal had been rumored for days, sending Goodrich's shares soaring. The stock was up more than 11 percent to $122 in aftermarket trading Wednesday after word of the deal broke.
United Technologies says it agreed to pay $127.50 a share in cash for Goodrich, which is based in Charlotte, N.C.
Hartford, Conn.-based United Technologies anticipates that its sales will be about $66 billion following the buyout.