United Technologies to Sell Rocketdyne Unit to GenCorp Inc.
Tuesday, July 24, 2012
United Technologies Corp. (NYSE: UTX) announced it has reached agreement to sell its Rocketdyne unit, currently part of Pratt & Whitney, to GenCorp Inc. for $550 million. The transaction is expected to close in the first half of 2013.
As previously announced, proceeds from the sale will be used to repay a portion of the short-term debt incurred to finance the proposed acquisition of Goodrich Corporation. The transaction is subject to customary closing conditions, including regulatory approvals.
Click here to read the UTC press release.
- • GenCorp To Pay $550M For UTC's Rocketdyne (Hartford Courant)
- • GenCorp To Pay $550M For UTC's Rocketdyne (Reuters, via Aviation Week)
- • United Tech. sells Rocketdyne unit for $550 mln (MarketWatch)
- • Rocketdyne sold to GenCorp for $550 million (Los Angeles Times)
- • GenCorp buying P&W Rocketdyne (United Press International)
- • GenCorp to buy rocket manufacturer Rocketdyne (Flight International)
- • Aerojet's Parent Company Bids $550 Million for Rival Rocketdyne (SpaceNews)