United Technologies Corp. (UTX) - Get United Technologies Corporation Report is said to be nearing a deal to purchase Rockwell Collins Inc. (COL) for over $20 billion and could reach an agreement as soon as this weekend, the Wall Street Journal reported.
United is considering a payment of no more than $140 per share for Rockwell, which would imply a 9.4% premium over Rockwell's Monday closing price of $127.99. That would put Rockwell at a market value of $20.8 billion and create one of the world's largest aircraft equipment manufacturers.
United stock traded up 1.2% and Rockwell up 1.7% late Tuesday morning.
Cramer talks about why a United Technologies-Rockwell Collins deal makes sense.
More of What's Trending on TheStreet:
- Amazon Is on the Verge of a Colossal Breakdown After Whole Foods Deal
- Here Are the Benefits Amazon Prime Members Will Get at Whole Foods
- Amazon Will Leave Carnage as It Steamrolls Through Grocery Industry
- United Airlines Will Feel Hurricane Harvey's Impact - How Brutal Will It Be?