Summary Box: EU probes United Technology deal

AP News
Posted: Mar 27, 2012 12:22 PM
Summary Box: EU probes United Technology deal

COMPETITION QUESTIONS: The European Union's competition regulator says it has opened an in-depth probe of United Technology's $16.4 billion acquisition of aerospace supplier Goodrich.

MARKET MOVES: The European Commission's initial analysis of the deal "indicated potential competition concerns regarding the markets for engine controls and AC power generators," where both companies already have big market shares. There is also concern that the deal will remove Goodrich as an independent supplier of fuel nozzles and engine controls.

DEADLINE: The Commission has until Aug. 9 to decide whether to approve or block the deal.