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(Updates with new unit chief in last paragraph.)
Sept. 21 (Bloomberg) -- United Technologies Corp. agreed to buy aerospace supplier Goodrich Corp. for $16.4 billion, paying $127.50 a share in an all-cash deal, a person familiar with the matter said.
The person asked not to be identified because the details aren’t public. The companies’ boards met separately tonight to approve the transaction, said three people with knowledge of those discussions.
At $127.50 a share, the United Technologies offer values Charlotte, North Carolina-based Goodrich at 47 percent more than its closing share price on Sept. 15, the day before Bloomberg reported the companies were in talks.
Buying Goodrich will add the world’s largest maker of aircraft landing gear to an aerospace portfolio at Hartford, Connecticut-based United Technologies that includes Sikorsky helicopters, Pratt & Whitney jet engines and the Hamilton Sundstrand unit, whose products include aviation electronics.
Goodrich’s aerospace lineup includes nacelles, the casings that hold jet engines; electronics; and temperature-control systems.
Goodrich will be combined with Hamilton Sundstrand, and Goodrich Chief Executive Officer Marshall Larsen will lead the new unit, according to the person familiar with the terms.
--With assistance from Susanna Ray in Seattle. Editors: Ed Dufner, Stephen West
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