United Tech seeks financing for deal: sources

United Technologies Corp (UTX.N) is lining up financing in the double-digit billions of dollars to support a major acquisition in the United States, according to people with direct knowledge of the matter.

The U.S. industrial conglomerate is tapping the credit market for funds that could top $20 billion, said one of the sources.

The sources declined to say which company United Tech is planning to buy, but investors pushed up shares of industrial and aerospace companies, betting they could be targets for United Tech or could be bought by other companies if United Tech spurs more industry consolidation.

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- Posted: 2011-09-16 12:15:31

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