United States President Donald Trump said he is "concerned" about the merger between Raytheon and United Technologies as the deal will create less competition in the defense industry.
Trump claimed that the merger will create one "big, fat, beautiful company" but will result in less choice in an already "non-competitive" market. He added that he wants to rebuild the "depleted" American defense industry and is convincing other countries to buy military equipment from the US.
Earlier, Tomahawk maker Raytheon and United Technologies announced they agreed to an all-stock merger which will create a company worth around $120 billion when the transaction is completed in the first half of next year.
