Raytheon Co. and United Technologies Corp. expect to close their all-stock merger-of-equals before the market opens on April 3 after receiving all the required regulatory approvals for the transaction.

The combined entity, Raytheon Technologies Corp., will begin trading April 3 on the New York Stock Exchange under the ticker symbol "RTX." Trading of Raytheon shares will end April 2.

Each share of Raytheon will be converted into the right to receive 2.3348 shares of Raytheon Technologies.

Raytheon is required to divest its military airborne radios business while United Technologies needs to divest its military global positioning systems and large space-based optical systems businesses as part of a conditional approval obtained from the U.S. Department of Justice. The two aerospace and defense companies expect to conclude divestitures following the merger.

Prior to the closing of the merger, a planned spinoff of Otis and Carrier from United Technologies will take effect, with each shareholder receiving 0.5 of a share of Otis and 1 share of Carrier for each share of United Technologies held on March 19. The two companies will trade independently on the New York Stock Exchange.