US Lawmaker Seeks Scrutiny of Raytheon-UTC Merger

The proposed merger between Raytheon and United Technologies Corporation (UTC) should receive “aggressive and penetrating scrutiny” by Congress, the Pentagon, and the US Justice Department due to its potential effect on national defence and local jobs, according to a US lawmaker. Senator Richard Blumenthal, a Connecticut Democrat and a member of...

The proposed merger between Raytheon and United Technologies Corporation (UTC) should receive “aggressive and penetrating scrutiny” by Congress, the Pentagon, and the US Justice Department due to its potential effect on national defence and local jobs, according to a US lawmaker.

Senator Richard Blumenthal, a Connecticut Democrat and a member of the Senate Armed Services Committee, said in a statement on 30 September that he is “troubled” that the merger of the two major US defence contractors might reduce competition and increase costs for defence products.

Blumenthal also expressed concern that the combined company, Raytheon Technologies, will be headquartered in Massachusetts, where Raytheon is currently based, and not in his state, which is UTC’s current home.

Source: www.janes.com