RTX/Saudi Defense Firm's Failed Arms Megadeal - Blame Emergence Of China, Russia Links
Portfolio Pulse from Vandana Singh
U.S. defense manufacturer, RTX Corp (NYSE:RTX), has terminated a multi-billion-dollar agreement with Saudi firm, Scopa Defense, due to concerns over Scopa's business transactions with companies from China, Russia, and Belarus that are subject to international sanctions. The deal involved a $25 billion investment to establish a factory in Saudi Arabia for producing air defense systems. The termination of the deal could impact RTX's future revenues and strategic plans.
September 15, 2023 | 1:20 pm
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RTX Corp's termination of its deal with Scopa Defense could potentially impact its future revenues and strategic plans. The company's stock price may be affected in the short term due to this development.
RTX Corp's decision to terminate its deal with Scopa Defense is a significant development that could impact its future revenues and strategic plans. This could potentially lead to a decrease in the company's stock price in the short term. The company's stock price closed at $75.50 on Thursday.
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