The Business Times

United Technologies seeking largest deal yet to spur sales

New CEO promises to increase shareowner value despite challenging growth environment

Published Sun, Dec 14, 2014 · 09:50 PM
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New York

UNITED Technologies Corp's new chief executive officer said that he will consider acquisitions in excess of US$20 billion as he reviews portfolio changes that could also include selling off key business units.

In his first public appearance since being appointed to the top post last month, Gregory Hayes said that he is taking a hard look at all of the company's units, which sell products from Black Hawk helicopters to Otis elevators and Carrier air conditioners. He said he would look at opportunities bigger than the US$16.5 billion acquisition of Goodrich Corp in 2012, the largest-ever aerospace purchase.

"We've done US$22 billion of acquisitions in the last couple of years, we've done US$8 billion of divestitures, but we're never ever done," he said during a presentation to analysts in New York on Thursday. "Whatever we need to do…

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