By Michael Dabaie

Raytheon Co. (RTN) shares were up 10% premarket to $205 Monday morning after Raytheon and United Technologies Corp. (UTX) agreed to merge in an all-stock deal.

United Technologies shares were up about 4% to $137 premarket.

The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing Co. (BA), with annual revenue of about $74 billion this year.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

June 10, 2019 08:00 ET (12:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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