United Technologies and Raytheon are reportedly close to a merger

United Technologies and Raytheon are getting ready to combine, according to news reports.

The Wall Street Journal and other outlets reported this weekend that the two companies are nearing a deal that would create a company worth more than $100 billion. The reported deal could be announced in the coming days.

Both UTC and Raytheon declined to comment.

UTC is an industrial conglomerate, and makes everything from jet engines to elevators. Raytheon is rooted in defense, and produces missile defense systems and cybersecurity solutions. The companies supply the likes of Airbus and Boeing.

Reports of the potential combination come months after UTC announced that it would spin off its Otis elevator division and Carrier building systems unit — a breakup meant to help the remaining company focus squarely on aerospace. A merger with Raytheon would happen when those spinoffs take place, according to the Journal.

Together, UTC and Raytheon are worth about $166 billion in market value right now. UTC makes up the lion’s share of that. The Journal puts the combined company’s value at about $100 billion, adjusting for the spinoffs.