Rockwell Collins, Inc. (NYSE: COL) reached for the sky Friday, after Reuters reported that Chinese regulator has given conditional approval for United Technologies (NYSE: UTX) and Rockwell Collins deal.
Today's conclusion of the regulatory review by China's State Administration for Market Regulation clears the way for United Technologies to proceed with the proposed acquisition announced on September 4, 2017. The acquisition is expected to close within three business days.
United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs.
UTX shares hiked $2.56, or 2%, to $128.28, while COL shares popped $11.75, or 9.1%, to $141.43
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