Chinese authorities have approved a $23 billion UTC and Rockwell Collins deal

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The deal of American corporation United Technologies and American electronics manufacturer for aviation Rockwell Collins has finally received the approval from the Chinese authorities. According to Bloomberg, companies have been waiting for this resolution for more than a year. Under the terms of the deal, the largest in the history of the aerospace industry, UTC will pay $140 per one share of Rockwell Collins - most of it in cash and $46.66 in shares. In the future, Rockwell Collins is expected to split into several divisions. This was announced in October by UTC CEO Greg Hayes.

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