market value: Unless the negotiations break down, a deal is expected to be announced in the coming days, a source close to the matter told the Journal, according to The Japan Times. Raytheon did not respond Sunday to queries from AFP. A spokeswoman for UTC, Michele Quintaglie, said she had no comment. The Wall Street Journal revealed on Saturday, citing an anonymous source, that talks have been underway between the two pillars of the aeronautics and defense industries worldwide. ; The merger, which would take place solely through an exchange of shares, would create an enterprise with a market value of 168 billion. Raytheon is best known for its Patriot air defense systems, which gained fame during the first Gulf War, and its Tomahawk cruise missiles, often the first weapons fired from U.S. Navy ships in recent conflicts. This merger among equals, according to the Journal, would be carried out at the same time as United Technologies spins off its nondefense and aerospace enterprises, including such holdings as Otis elevators and Carrier air-conditioning and building systems. United Technologies is a big player in the aeronautics industry with its Pratt and Whitney engines, which are used in civil and military aircraft, including the F-35 multirole fighter, considered one of the most advanced combat aircraft in the world.
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