With the prospect of two of the aviation industry’s biggest conglomerates merging, Honeywell International Inc. and United Technologies Inc., a prominent firm that would be directly affected by the merger has stated its disapproval, reports Reuters.
In an announcement on Wednesday, Airbus CEO Tom Enders stated that his company does not see the merging of Honeywell and United Tech to be in Airbus’ best interests. Currently, Enders’ firm is among the two companies’ biggest clients.
Though it has been confirmed that Honeywell and United Tech have engaged in talks about a possible merger, UTC has voiced its reservations about the possible merger on Monday, citing difficulties in getting the move approved.
Gregory Hayes, the United Technologies chief executive, even stated that the deal “ain’t going to happen,” and that “there is just no way to get it done.”
Honeywell and United Tech have engaged in talks about possible mergers in the past, though its previous attempts have failed thus far. The latest talks, where Honeywell allegedly offered UTC about $90 billion for the merger, was ultimately shot down by the UTC CEO.
For its part, Honeywell has stated that the company still believes that a merger is still a possibility. In a statement on Tuesday, the company asserted its stance about the United Tech deal.
Full content: The Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Wins Appeal Against EU’s €1.5 Billion Fine for Ad Monopoly Practices
Sep 18, 2024 by
CPI
Meta Introduces Teen Accounts to Address Growing Data Regulation Demands
Sep 17, 2024 by
CPI
FTC Lawyers Wrap Up Arguments to Block Kroger-Albertsons Merger
Sep 17, 2024 by
CPI
Financial Regulator to Monitor CNMC’s Ruling on BBVA-Sabadell Acquisition
Sep 17, 2024 by
CPI
Green Day Ticket Prices Spark Controversy Amid Dynamic Pricing Concerns
Sep 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández