The British defence company has agreed to acquire a military global positioning system business from Collins Aerospace for $1.9 billion and a tactical radios division from Raytheon for $275 million. The two are being offloaded as part of a $120 billion merger between United Technologies Corporation, which owns Collins Aerospace, and Raytheon. Analysts said that the acquisitions were expensive and opportunistic, but were of a high quality and would boost earnings and cash. The news sent shares in BAE Systems up 23p, or 3.7 per cent, to 647½p, making it the biggest riser on the FTSE 100 share index. BAE Systems is the former…

Source: The Times January 20, 2020 17:03 UTC