Rockwell Collins’ shareowners have overwhelmingly approved the proposed acquisition of Rockwell Collins by United Technologies Corp. According to Rockwell Collins, more than 96% of all votes cast, representing more than 72% of all shares of common stock outstanding on the record date for the special meeting, were in favor of the transaction.
Upon satisfaction of required regulatory and other customary closing conditions, Rockwell Collins will be combined with UTC Aerospace Systems to create a new United Technologies business called Collins Aerospace Systems. The proposed transaction is expected to close by the third quarter of 2018.
“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.”