Jet-engine maker United Technologies has agreed to buy aircraft parts manufacturer Rockwell Collins for $30 billion, including debt, the companies said.

Under the deal, Rockwell shareholders will receive $140 per share in stock and cash, split between $93.33 in cash and $46.67 in United Tech stock, the companies said in a statement.

The offer represents an 18 premium to Rockwell's closing share price on Aug. 3, the day before media reported that UTC was weighing a bid for Rockwell.

Under the deal, the companies said that Rockwell Collins and UTC's aerospace systems segment will be combined to create a new business unit named Collins Aerospace Systems.

"This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems," UTC's chairman and chief executive officer, Greg Hayes, said in the statement.