Goodrich shareholders approve merger with United Technologies

Goodrich Corporation reported that, at the special meeting of shareholders held March13th, Goodrich shareholders voted to approve the proposed merger with United Technologies Corp. The final tabulation indicates that more than 98% of votes were cast in favor of the transaction, which represents approximately 75% of the total outstanding shares of Goodrich common stock as of February 6, 2012, the record date for the special meeting. Upon completion of the merger, Goodrich will become a wholly owned subsidiary of United Technologies and Goodrich shareholders will receive $127.50 in cash, without interest, for each share of Goodrich common stock they own, representing a 47.4% premium to the closing stock price on Thursday, September 15, 2011, the last full day of trading prior to market rumors of a transaction. The transaction has a total enterprise value of approximately $18.4bn, including approximately $1.9bn in net debt assumed. Goodrich continues to expect the merger to be completed by mid-2012, following the satisfaction or waiver of all closing conditions.