Raytheon and UTC announced in June 2019 plans to officially merge into a new entity called Raytheon Technologies Corporation, with the deal at the time expected to close during the first half of 2020.

UTC Chairman and CEO Greg Hayes also confirmed that the company is exploring the possibility of divesting the fire and security “field” business from Carrier prior to the official spin-off.

UTC previously announced it was selling the West Hartford unit to Cleveland aviation firm TransDigm for $236 million sometime in the fourth quarter or early first quarter, but that was stopped ...