CNN Business: United Technologies and Raytheon are joining forces to create an aerospace and defense powerhouse. It is one of the biggest corporate mergers of 2019. The two companies announced Sunday that they have agreed to combine in an all-stock deal they termed a "merger of equals." The new company would have annual revenue of about $74 billion. Together, UTC and Raytheon are worth about $166 billion in market value now. UTC makes up the lion's share of that. Under the terms of the deal, United Technologies shareholders would own 57% of the combined company, with Raytheon shareholders owning the rest. The combined company will be named Raytheon Technologies Corp. UTC finished its acquisition of Cedar Rapids-based Rockwell Collins last November. That company is now based in West Palm Beach, Fla., and known as Collins Aerospace.