MIAMI — United Technologies Corporation (UTC), a multinational conglomerate based in Farmington, Connecticut, announced the acquisition of the airplane parts maker, Rockwell Collins, for $30 billion, along with debt, achieving an industrial giant and consolidating one of the largest deals ever in the aerospace industry.

UTC, a profoundly varied business that involves the Otis elevator and escalator brands and Pratt & Whitney’s high-performance aircraft engines, will pay $140 a share in cash and stock, following the terms and conditions of the agreement. In return, Rockwell investors will receive $93.33 a share in cash and the remaining $46.67 in UTC stock.

The price is an 18 percent premium higher where Rockwell’s stock was traded on August 3rd, just a day before news reports informed about UTC contemplating a proposition for Rockwell.

Acquiring Rockwell, which manufactures electronics and avionics for aircraft, as well as the F-35 fighter jet, would enhance United Technologies’ offerings without any overlay. Furthermore, it would guarantee the firm more negotiating advantage over the worldwide airplane makers leaders Boeing and Airbus.

Infographic by United Technologies.

UTC chairman, Gregory J. Hayes, established the following in a statement:

This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems.

The transaction is expected to conclude by the third quarter of 2018.

During the last month, shares of Rockwell Collins, with a market value of $21.2 billion, have risen 9.8 percent. Likewise, UTC, with a market cap of $94.2 billion, has accelerated 2.9 percent.

Through the years, UTC has long sought growth through purchases. In 2012, it acquired Goodrich for $18 billion. However, United declined a deal with Honeywell International on the last year, stating that regulators were possible to block it due to antitrust rules.

Although this purchase is large and significant, is not the first giant aerospace deal. On August 10th, 2015, Warren E. Buffett’s Berkshire Hathaway obtained Precision Castparts, a company that produces parts for aerospace suppliers, for $37 billion plus debt.