Investors bought stock in industrial and aerospace companies on Friday, anticipating a big new deal by United Technologies (UTX) after Reuters reportedthat United Tech was raising $20 billion for an acquisition.
Aerospace suppliers Rockwell Collins (COL)� and Goodrich (GR) rose 9.4 % and 6.4% respectively; Cessna-owner Textron (TXT) jumped 7.7%.
Reuters’ sources, who were unidentified, said that the deal was still being negotiated and could fall apart. United Tech CEO Louis Chenevert has not made it a secret that he’s in the market for acquisitions. The company didn’t comment on the report.
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