The shareowners of Rockwell Collins, Inc. have overwhelmingly approved the proposed acquisition of Rockwell Collins by United Technologies Corp.
The company says more than 96% of all votes cast, representing more than 72% of all shares of common stock outstanding on the record date for the special meeting, were in favour of the transaction.
Upon satisfaction of required regulatory and other customary closing conditions, Rockwell Collins will be combined with UTC Aerospace Systems to create a new United Technologies business called Collins Aerospace Systems.
The proposed transaction is expected to close by the third quarter of 2018. The acquisition was originally announced in September 2017.