The proposed tie-up of Raytheon and United Technologies is being billed publicly as a potential catalyst for new technology some day in the future, but executives are acknowledging the deal may be better known as a cash generator for investors in the nearer term. “Free cash flow will be the calling card of the new Raytheon Technologies,” United Technologies Chairman and CEO Greg Hayes said at a Morgan Stanley conference in California Sept. 12. “We see tremendous ...

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