United Technologies Corp (NYSE:$UTX) is an aerospace and industrial company that recently acquired avionic maker Rockwell Collins Inc (NYSE:$COL) for a cool $23 billion. However, Boeing Co (NASDAQ:$BA) firmly disapproved as to whether the deal will benefit airlines.

United Tech saw a 5% decrease in shares, as many analysts downgraded the company, criticizing its decision to halt share buybacks for three to four years and dilution from the cash-and-stock deal. Boeing, particularly, said that it would examine the combination, the largest in aerospace history, and use the power granted by its contracts with the companies, and its sway with regulators, “to protect our interests.” It is worth noting that Boeing has been known to oppose deals if suppliers gain too much power or risk losing focus.

Meanwhile, United Tech Chief Executive Greg Hayes reassured Airbus SE (OTCMKTS:$EADSY) CEO Tom Enders that the Pratt & Whitney engine division will stay focused on delivering between 350-400 jetliner engines this year. He stated: “Pratt has nothing to do with this deal, they won’t be part of the integration efforts.”

The overall acquisition will create a major supplied to Boeing, Airbus and Bombardier (OTCMKTS:$BDRBF), at a time when the plane makers are pressing for price cuts and trying to compete against suppliers on services and spare parts. United Tech expects to borrow $15 billion and will incur $7 billion in Rockwell debt to fund the deal, which is expected to close by the third quarter of 2018. Ideally, the acquisition would add to earnings in its first full year and yield at least $500 million in cost savings by the fourth year of operation.

But for now, Rockwell’s shares rose 0.5% to $131.26 in mid-day trading. United Tech, on the other hand, fell 4.9% to $112.18.

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