Raytheon and United Technologies shareowners “overwhelmingly” approved all proposals necessary to complete the merger of UTC’s aerospace businesses—Collins Aerospace and Pratt & Whitney—with Raytheon, the companies announced Oct. 11.

“Today is an important milestone in our transformational merger, which will define the future of aerospace and defense,” said United Technologies Corp. (UTC) chairman and CEO Greg Hayes, who will be chief executive of the merged company. “With our technological and R&D capabilities, Raytheon Technologies will deliver innovative and cost-effective solutions aligned with the highest customer priorities for decades to come.”

The companies did not immediately release vote results but said they will be disclosed in regulatory filings. The deal is slated to close in the first half of 2020, subject to “customary closing conditions” including regulatory approvals, as well as UTC’s spin-offs of its Otis elevator and Carrier air-conditioning businesses.

Shareholder approvals were expected but not a given, especially as UTC and Raytheon were criticized by key Wall Street investors who wanted UTC to buy a higher-margin company. The merger is seen as producing a heavyweight aerospace and defense supplier, second in revenue only to the leading aircraft OEMs, Airbus and Boeing.

The merged company will be balanced between commercial and defense work, similar to Airbus and Boeing.

Michael Bruno/Aviation Week michael.bruno@aviationweek.com