<!-- Swiftype Variables -->

Asset Owners

UTC’s acquisition of Rockwell Collins would combine $60 billion in retirement assets

The acquisition of Rockwell Collins Inc. by United Technologies Corp. would create a company with combined retirement assets of about $60 billion.

The transaction, valued at $30 billion, is expected to close by the third quarter of 2018, said a UTC news release.

Upon completion of the transaction, Rockwell Collins and UTC Aerospace Systems will combine to form a new unit at UTC — Collins Aerospace Systems.

As of Dec. 31, Hartford, Conn.-based UTC had $30.56 billion in global pension assets, according to its most recent 10-K filing with the Securities and Exchange Commission. UTC had $22.53 billion in defined contribution assets as of the same date, according to its 11-K filings. The 10-K did not break out U.S. assets. However, according to Pensions & Investments data, the company had $24.79 billion in U.S. defined benefit assets as of Sept. 30.

As of Sept. 30, Cedar Rapids, Iowa-based Rockwell Collins had $3.07 billion in DB assets, according to its most recent 10-K filing.

As of Dec. 31, the company had $3.48 billion in DC assets, according to its most recent 11-K.

Information was not available on how the companies' retirement programs would be affected by the acquisition.

A UTC spokeswoman could not immediately be reached for additional information.