United Technologies to acquire Goodrich Corporation for $127.50 per share in cash

United Technologies has reached agreement to purchase Goodrich Corporation for $127.50 per share in cash. This equates to a total enterprise value of $18.4 billion, including $1.9 billion in net debt assumed. United Technologies expects to finance the transaction through a combination of debt and equity issuance.  The equity component is expected to approximate 25% of the total.  The closing is subject to customary closing conditions, including regulatory and Goodrich shareholder approvals.  Following completion of the transaction, United Technologies is expected to have worldwide sales of approximately $66 billion based on projected 2011 results. The combined company’s increased scale, financial strength and complementary products will strengthen United Technologies’ position in the aerospace and defense industry.