A PYMNTS Company

US: DOJ approves UTC’s US$30b takeover of Rockwell with conditions

By  |  October 2, 2018

The US Department of Justice (DOJ) will require United Technologies (UTC) to divest two Rockwell Collins divisions before it gives the final approval to the merger, reported the Financial Times.

According to a statement released Monday night, October 1, Farmington, Connecticut-based UTC will be required to sell off Rockwell Collins’ pneumatic ice protections business—which builds products to de-ice plane wings—and Rockwell’s trimmable horizontal stabilizer actuators business—which builds parts that help planes maintain proper altitude.

“Today’s remedy ensures that customers continue to benefit from competition in the supply of these two aircraft components that are critical to safety,” Makan Delrahim, Assistant Attorney General of the Antitrust Division, said in a statement.

The transaction was approved by the EU in May but approval from China has not yet been secured.

Full Content: Financial Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.