United Tech to buy Goodrich in $16.4 billion deal: report
United Tech is paying $127.50 a share for Goodrich, the report said, a 47 percent premium over the stock's closing price last Thursday, before Reuters first reported that negotiations were underway.
The deal, if completed, would be the diversified U.S. manufacturer's largest takeover in a decade.
It would boost United Tech's presence in the commercial aviation business, as Goodrich supplies a host of parts to both European aerospace conglomerate EADS's Airbus division and to Boeing Co . It also supplies parts for Hartford, Connecticut-based United Tech's Pratt & Whitney jet engines and Hamilton Sundstrand's aircraft electronics.
It would be a big move for United Tech Chief Executive Louis Chenevert, who had long said he was interested in doing more deals but was having a hard time coming to terms with targets on price.
(Reporting by Paritosh Bansal; Editing by Richard Chang)