United Technologies and Raytheon have offered concessions to address EU antitrust concerns about their plan to create a US$120 billion US aerospace and defense giant, reported Reuters.
The companies submitted their concessions on Friday, February 21. The European Commission, which did not provide details in line with its policy, extended its deadline for a decision to March 13 from February 28.
In January, UTC agreed to divest a military-focused GPS unit from its subsidiary Collins while Raytheon agreed to sell an airborne tactical radios unit to British defense company BAE Systems in a bid to win regulatory clearance.
The EU competition watchdog will now seek feedback from rivals and customers before deciding whether to clear the deal, demand more concessions or open a full-scale investigation.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
US Senators Present AI Strategy, Call for Funding Surge
May 15, 2024 by
CPI
Hausfeld Strengthens Competition Bench with Key Hires in London and Germany
May 15, 2024 by
CPI
UK’s CMA Investigates Education Software Company for Market Abuse
May 14, 2024 by
CPI
Schumer Urges FTC Caution on Chevron’s $53B Hess Deal Over Gas Price Fears
May 14, 2024 by
CPI
Amazon Urges US Judge to Block FTC Probe into Data Preservation
May 14, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI