Raytheon, which has Orlando presence, to merge with United Technologies

Raytheon Co., a 98-year-old defense contractor headquartered in Waltham, Massachusetts, will merge with Connecticut-based United Technologies in an all-stock deal that will create one of the largest public companies in Massachusetts by headcount, revenue and market value.

Raytheon (NYSE: RTN) and United Technologies (NYSE: UTX) announced the planned merger Sunday, saying the combined firm will remain based in the Boston area. A spokesperson for Raytheon said there’s “nothing more definitive” on Sunday evening regarding whether it would remain in Raytheon’s current headquarters in Waltham. Read more here.