European Commission Approves UTC Takeover of Rockwell With Conditions
May 04 2018 - 9:51AM
Dow Jones News
By Alberto Delclaux
The European Commission on Friday conditionally approved the
acquisition of airplane-parts maker Rockwell Collins Inc. (COL) by
industrial conglomerate United Technologies Corp. (UTX).
The decision is conditional on UTC's divestment of businesses
actuators, pilot controls, ice-protection and oxygen systems, the
commission said.
"We can allow this merger to go ahead because in all the markets
where we raised concerns, UTC has committed to divest activities
covering the entire overlap between the two companies," Competition
Commissioner Margrethe Vestager said.
UTC will divest its two research projects in oxygen systems, as
well as Rockwell's entire global THSA and pilot-control businesses
and Rockwell's global business in ice protection.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
May 04, 2018 09:36 ET (13:36 GMT)
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