EU Opens In-Depth Probe Of UTC's Proposed Buy Of Goodrich
March 27 2012 - 3:59AM
Dow Jones News
The European Commission said Tuesday it has opened an in-depth
antitrust investigation into United Technology Corp.'s (UTX)
proposed purchase of Goodrich Corp. (GR) on concerns that it could
undermine competition in some parts of the aviation equipment
sector.
"The Commission's preliminary investigation indicated potential
competition concerns regarding the markets for engine controls and
AC power generators, where the parties would have very high
combined market shares," the commission, which has antitrust powers
in the European Union, said.
"The Commission also has vertical concerns concerning the
removal of Goodrich as an independent supplier of fuel nozzles and
engine controls, as well as in the area of aftermarket
services."
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com
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