Crowell, Wachtell Rep United Tech In $16.5B Goodrich Buy

Law360, New York (September 22, 2011, 1:09 PM EDT) -- Industrial behemoth United Technologies Corp. said Thursday it had struck a deal to buy aerospace manufacturer Goodrich Corp. for about $16.5 billion in cash.

The acquisition is the biggest ever for United Technologies and a major gamble for CEO Louis Chenevert, who is betting Goodrich will bolster his company's position in the lucrative aerospace and defense industry. Hartford, Conn.-based United Technologies will pay $127.50 per share for Goodrich — a 47 percent premium over its closing price Sept. 15, when news of the deal leaked —...
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