UTC to buy Clipper Windpower

The wind turbine maker Clipper Windpower has agreed to a £139.5m buyout by the US conglomerate United Technologies Corporation. UTC will pay 65p a share to gain control over the 50.1 per cent stake in the AIM-listed Clipper that it does not already own and assist with cash flow ahead of the transaction. Last year, UTC, which provides hi-tech products and services to the building systems and aerospace industries, paid £166m for a 49.5 per cent stake in Clipper.