LONDON (ShareCast) - (ShareCast News) - According to the Financial Times, United Technologies Corporation (UTC) was close to a deal that would see the Farmington, Connecticut conglomerate purchase aviation systems and cabin equipment manufacturer Rockwell Collins for nearly $30bn.
The two companies reportedly had been discussing a per-share price for Rockwell of $140 or less, with an agreement expected to be reached as soon as 4 September.

If the takeover deal for the $21bn Rockwell went through, UTC - already a $93bn company - would become the world's largest aircraft-equipment makers.

UTC has spent several years diversifying its portfolio, starting in 2012 when it acquired North Carolina based aerospace manufacturer Goodrich Corp for $16.5bn, which at the time was the largest ever deal for the group.

Rockwell itself completed an acquisition of B/E Aerospace for $8.6bn earlier in 2017.

As of 1615 BST, the speculation that had created a rise in share prices for the two firms on Tuesday had mostly leveled out, with UTC down 0.04% to $118.67 and with Rockwell losing ground 0.23% to $130.44.

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