The defense side of legacy Raytheon is doing great and is what is keeping the new company afloat. IF UTC did not purchase/merge with Raytheon they would probably be in trouble. The question is Raytheon was doing great by itself so why the merger?
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Just read RMS picked up another contract from the air force.
ITC wanted the technology so they bought Raytheon? Why would Raytheon sell?
Raytheon is not doing great. They've lost hypersonic to the other contractors. Real stock value is negative 18 a share.
Read the open-source information of the joint ventures before the merger.
This has been answered a Bazzillion times. Hypersonic Technology development.