US President Donald Trump has stated that he is ‘a little concerned’ that a proposed £96bn merger between two of America’s largest defence contractors, as it could mean a lack of competition within the sector.
Raytheon and UTC’s deal could combine the manufacturers of many of the US military’s equipment, including F-35 fighter jets, missiles and modern electrical warfare systems.
Soon after the companies went public with their proposal, Trump condemned the merger on US television.
During the CNBC broadcast, Trump told the US public that the merger could harm competition, making it harder for the government to negotiate new contracts.
Senior members of the two companies are set to meet Trump this week to discuss the proposal, in a move that could potentially change the future of the US military.