WHEN: Today, Friday, September 16, 2011
WHERE: CNBC's "Money in Motion Currency Trading"
Following is the unofficial transcript of breaking news from CNBC's David Faber. All references must be sourced to CNBC.
MELISSA LEE: AND WE HAVE BREAKING NEWS AND GOING TO DAVID FABER RIGHT NOW ON THE MONEY LINE. DAVID?
DAVID FABER: THANKS, MELISSA. SOME DEVELOPING M AND A NEWS INVOLVING UTX WE CAN TELL YOU AT THIS POINT THE UNITED TECHNOLOGIES IS IN NEGOTIATIONS, DEEP NEGOTIATIONS TO ACQUIRE THE GOODRICH CORPORATION IN A DEAL THAT COULD VALUE GOODRICH AT BETWEEN $110 AND $125 A SHARE. OUR VIEWERS MAY RECALL EARLIER TODAY UNITED TECHNOLOGIES SHARES OR I SHOULD SAY SHARES OF A NUMBER OF OTHER COMPANIES WERE OFF WHEN THERE WAS A REPORT THAT UNITED TECHNOLOGIES WAS IN THE FINANCING MARKET LOOKING FOR SIGNIFICANT FINANCING, WE TOLD PEOPLE THAT FINANCING WAS FOR ABOUT $15 BILLION AND THAT TYCO WAS NOT A TARGET, WE CAN NOW TELL YOU GOODRICH IS IN FACT THE TARGET THOSE NEGOTIATIONS HAVE BEEN GOING ON FOR A WHILE, AND THERE IS A POSSIBILITY SOURCES CLOSE TO THE SITUATION TELL BOTH MYSELF AND OUR OWN KATE KELLY THAT A DEAL COULD BE ANNOUNCED AS EARLY AS NEXT WEEK. AGAIN, THERE IS NOT A DONE DEAL, BUT UNITED TECHNOLOGIES IN NEGOTIATIONS TO ACQUIRE GOODRICH FOR WHAT WOULD BE CLOSE TO $16 BILLION, THAT BEING BETWEEN $110 AND $125 IN CASH AT THIS POINT, AND THAT IS WHAT WE KNOW. OF COURSE, WE WILL BE MONITORING THE STORY AS WE GO ALONG. MELISSA.
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