United Technologies to buy Rockwell Collins for $30 billion, combine aerospace operations

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Jet-engine maker United Technologies has agreed to would buy aircraft parts manufacturer Rockwell Collins for $30 billion, including debt, the companies said.

Under the deal, Rockwell shareholders will receive $140 per share in stock and cash, split between $93.33 in cash and $46.67 in United Tech stock, the companies said in a statement.

The offer represents an 18 premium to Rockwell's closing share price on Aug. 3, the day before media reported that UTC was weighing a bid for Rockwell.

Under the deal, the companies said that Rockwell Collins and UTC's aerospace systems segment will be combined to create a new business unit named Collins Aerospace Systems.

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