With the pending sale of Iowa-based Rockwell Collins to United Technologies for $30-billion dollars, comes fears that the Cedar Rapids company will lose jobs.
"I will be having a conversation with the CEO of United Technologies on the one hand, and Rockwell Collins on the other hand." U.S. Senator Charles Grassley of Iowa tells WHO Radio News. "We'll just have to wait and see what they tell me."
"I'm going to be very concerned that jobs not leave Cedar Rapids, and Manchester, and there's a couple of other places they have plants in Iowa." Grassley said.
"It will get vigorous review by the Justice Department, as all mergers do." Said Grassley, who is the Chair of the Senate Judiciary Committee.
United Technologies has agreed to buy the airplane parts maker Rockwell Collins for $30 billion dollars, including debt. The price is an 18 percent premium above the August 3 price of Rockwell’s stock.