NEW YORK — United Technologies Corp is negotiating final terms of an all-cash acquisition of aerospace company Goodrich Corp. with the goal of reaching a deal in the next couple of days, Reuters reported Tuesday, quoting people familiar with the matter.
Goodrich’s aircraft wheel and brake divison is headquartered in Troy. The plant there has 700 employees. A rival suitor appears unlikely as General Electric Co and Honeywell International Inc. – seen as the only possible contenders big enough to buy Goodrich – would not want a bidding war against United Tech, according to several people familiar with the companies’ thinking, Reuters said. The people declined to elaborate on the likely price, and cautioned that the talks between United Tech and Goodrich could still fall apart. JPMorgan Chase & Co is advising United Tech and also offering financing, while Goodrich is being advised by Credit Suisse Group AG and Citigroup Inc , Reuters reported. Shares of Goodrich closed 3.9 percent higher at $111.82 on the New York Stock Exchange, valuing the company at nearly $14 billion. Representatives of United Technologies, Goodrich, Honeywell and GE declined to comment. JPMorgan and Citi also declined to comment, while Credit Suisse was not immediately available, Reuters said.
