United Technologies to buy Goodrich for $18.4B

September 21, 2011 - 9:40 PM

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.