Merger Alert: Sky’s the Limit
We’ll get to more of your opinions on CBD and marijuana tomorrow.
First, I wanted to gather your thoughts on news that broke last week:
Charges for School Resource Officer Scot Peterson include perjury, child neglect and culpable negligence for failing to intervene during the school shooting in Parkland, Florida that left 17 people dead.
Do you think the charges are fair? Do you think there’s enough evidence that the officer was in dereliction of duty?
Your Rundown for Monday, June 10, 2019:
While you were probably enjoying some down-time Sunday, two titans in the aerospace defense industry announced plans to merge.
Raytheon Technologies (RTN) and United Technologies (UTX) have struck an agreement for an all-stock deal creating one massive aerospace juggernaut.
While Raytheon is known for making the Tomahawk missile, United Technologies makes everything from airplane seats to jet engines.
The two companies — simply going by Raytheon Technologies — estimate combined annual sales of $74 billion, making it second in the industry after Boeing. Its combined market cap? That’ll comes in at $166 billion.
“If completed… United Technologies would own 57% of the new company while Raytheon’s would own 43% on a diluted basis,” CNBC reports.
“Raytheon shareholders will get 2.3348 shares in the new company for each Raytheon share….” The deal’s expected to close — likely without any regulatory hitches — at the beginning of 2020.
This morning, Raytheon shares are up 1.5% while UTX is down 1.3%.
Market Rundown for Mon. June 10, 2019
S&P 500 futures are up 21 points to 2,894.80.
Oil’s price is steady at $53.99 for a barrel of WTI.
Gold is down $13.60 to $1,332.50 per ounce.
Bitcoin is up $305.71 this morning to $7,949.18.
Have a good day. We’ll talk tomorrow.
For the Rundown,