Rockwell Shareholders OK Sale of Company to United Technologies
"The pending $30 billion sale of Rockwell Collins Inc. received strong support from shareholders Thursday," the Winston-Salem Journal (Jan. 11, Craver) states. According to Rockwell, 72 percent of its 163.7 million outstanding shares were represented in the vote. Of that amount, 96 percent approved the proposed offer from United Technologies Corp. UTC announced its $23 billion offer for Rockwell in early September, which includes taking on an additional $7 billion in Rockwell debt. The companies are on track to close on the transaction in this year's third quarter, possibly in early July.
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