Raytheon, United Technologies Pare Premarket Gains After Trump Comments

By Michael Dabaie

Raytheon Co. (RTN) lost some of its premarket gains and were up 1% to $187.84 in early trading after President Donald Trump said in a CNBC interview he is "a little concerned" about the planned merger between Raytheon and United Technologies Corp. (UTX).

United Technologies shares turned negative and were recently down 1% to $130.79.

"When I hear they're merging, does that take away more competition?", Mr. Trump said in the interview.

United Technologies in a Securities and Exchange commission filing said the agreement between the two companies includes termination fees. Raytheon would be required to pay United Technologies $1.785 billion, and United Technologies would be required to pay Raytheon $2.365 billion, under certain circumstances.

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

(END) Dow Jones Newswires

June 10, 2019 10:17 ET (14:17 GMT)

United Technologies (NYSE:UTX)
Historical Stock Chart
From Mar 2024 to Apr 2024