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The Wall Street Journal: United Technologies closing in on $20 billion deal for Rockwell

United Technologies Corp. is nearing a deal to buy Rockwell Collins Inc. for more than $20 billion, a tie-up that would create one of the world’s biggest aircraft-equipment makers.

The companies are discussing a per-share price for Rockwell of $140 or less and could come to an agreement as soon as this weekend, according to people familiar with the situation.

Rockwell COL, +2.15% shares rose on the news, first reported by The Wall Street Journal Tuesday, closing up 2.1% at $130.74 and giving the company a market value of about $21 billion. United Technologies UTX, +2.92% , meanwhile, jumped 2.9% to $118.70, giving the industrial conglomerate a market value of about $95 billion.

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