Bloomberg's right: UTC-GE Security buy announced
We'll have more on the wire in a little bit, but for now know that the rumors were true: UTC is buying GE Security for $1.82 billion. Not much to the press release really, but some food for thought:
"This acquisition enhances UTC Fire & Securityâ€™s status as a leading franchise in the $100 billion global fire safety and electronic security industry," UTC President and Chief Executive Officer Louis Chenevert said. "It strengthens our North America footprint, extends our capabilities and complements our existing fire and security businesses."A" leading franchise? Should he go so far as to say "the" leading franchise now? Also, $100 billion? Are people comfortable with that number?