Rockwell Collins shareholders “overwhelmingly” want United Technologies Corporation (UTC) to acquire Rockwell Collins. The company said Thursday that more than 96% of all votes cast — which represents more than 72% of all shares of common stock outstanding on the record date for the special meeting — were in favor.
“Shareowners have made clear their support for this acquisition, bringing it one step closer to reality,” said Kelly Ortberg, Rockwell Collins’ chairman, president and CEO. “As Collins Aerospace, we’ll be a stronger company, with attractive aerospace product and service portfolios, and ultimately, better positioned for long-term success.”
Once conditions are met and the deal officially closes, Rockwell Collins would be combined with UTC Aerospace Systems to create a new United Technologies business called “Collins Aerospace Systems.” Rockwell Collins said the proposed transaction is expected to close by the third quarter of 2018.