The recently announced merger of United Technologies (UTC) and Raytheon has sowed mild confusion among some analysts. The deal essentially bolts on Raytheon’s military-dominated business to UTC’s more commercially oriented aerostructures and engine production, and while this will be a useful supplement to Raytheon’s military sales, some have questioned why UTC is moving into uncharted waters so soon after its giant merger with Rockwell Collins. The consolidated entity ...

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