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United Technologies raising funds for Goodrich purchase

Company will offer equity units of shares and debt to fund purchase of aerospace parts manufacturer.


June 12, 2012
by The Canadian Press

HARTFORD, Conn.: United Technologies is attempting to raise $1 billion to help finance its purchase of aerospace parts manufacturer Goodrich Corp.

The industrial conglomerate said 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, NC, includes debt and the sale of several companies such as United Technologies’ rocket and wind power businesses.