United Tech nears all-cash bid to take over Goodrich

City A.M. Reporter
AMERICAN conglomerate United Technologies is negotiating final terms of an all-cash acquisition of aircraft components maker Goodrich with the goal of reaching a deal in the next few days, people familiar with the matter said last night.

An acquisition of Goodrich, which has a market capitalisation of about $14bn (£8.9bn), would be the biggest deal in a decade for United Technologies, which makes Pratt & Whitney aircraft engines, Otis elevators and Carrier heating and air conditioning systems.

Sources familiar with the discussions declined to elaborate on the likely price, and cautioned that the talks could still fall apart.

Last week it emerged that United Tech was lining up financing of $10bn to $20bn for a takeover of a US company.