September 4, 2017 / 11:27 PM / a year ago

CORRECTED-BRIEF-United Technologies to acquire Rockwell Collins for $30 bln (Sep. 4)

(Corrects last bullet to say Ortberg and Gitlin will assume roles of CEO and COO, respectively, of new business unit Collins Aerospace Systems)

Sept 4 (Reuters) - United Technologies Corp-

* United Technologies to acquire Rockwell Collins for $30 billion

* United Technologies will acquire Rockwell Collins for $140.00 per share, in cash and UTC stock

* United Technologies says under terms of agreement, each Rockwell Collins shareowner will receive $93.33 per share in cash and $46.67 in shares of UTC common stock

* Deal expected to generate cost synergies in excess of $500 million

* Anticipate acquisition to be accretive to UTC adjusted earnings per share after first full year following closing

* United Technologies says expects to fund cash portion of transaction consideration through debt issuances and cash on hand

* Purchase price implies total equity value of $23 billion and total transaction value of $30 billion, including Rockwell Collins' net debt

* United Technologies says reaffirmed its expectations for 2017 sales of approximately $58.5 to $59.5 billion and adjusted earnings in range of $6.45 to $6.60 per share

* United Technologies says Morgan Stanley & Co Llc is acting as financial advisor to United Technologies

* Upon deal completion, Rockwell Collins and UTC Aerospace will be integrated to create new business unit named Collins Aerospace Systems

* United Technologies says expects deal to generate an estimated $500 plus million of run-rate pre-tax cost synergies by year four

* Kelly Ortberg will assume role of chief executive officer with Dave Gitlin serving as president and Chief Operating Officer of new business unit Collins Aerospace Systems Source text for Eikon: Further company coverage:

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