United Technologies seeking largest deal yet to spur sales
New CEO promises to increase shareowner value despite challenging growth environment
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…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
'Harvesting data': Latin American AI startups transform farming
After long peace, Big Tech faces US antitrust reckoning
Tech’s cash crunch sees creditors turn ‘violent’ with one another
Tech millionaires chase billionaire tax shields with ‘swap fund’
Elon Musk’s Starlink profits are more elusive than investors think
Hollywood animation, VFX unions fight AI job cut threat