Just when it appeared that equipment-supplier consolidation had run its course, United Technologies (UTC) shocked the aerospace industry by reaching an agreement to acquire Rockwell Collins for a cool $30 billion. UTC Aerospace Systems (UTAS) will be combined with Rockwell Collins and folded into a new business unit named Collins Aerospace Systems with revenues of $23 billion—twice the size of the next-largest equipment supplier. This doesn’t include Pratt & Whitney’s ...

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