UTC Might Object to GE-Honeywell Deal

In a story reported by the Financial Times, George David, United Technologies Carrier (UTC) chief executive, said his staff was looking into the competition implications of General Electric’s (GE’s) offer to buy Honeywell for approximately $42 billion (The News, Oct. 30). The article said that UTC may raise anti-trust objections.

David was attending a Business Council summit of U.S. chief executives in Boca Raton, FL, when he said of the deal, “We could be expected to offer some opinions on that.”

The article goes on to state that “some anti-trust experts have suggested that approval [of the deal] is not a foregone conclusion. The authorities may examine whether GE has plans to enter the smaller engine business, an area where Honeywell operates, and whether vertical integration could lead to customers of GE Aircraft Engines being put under pressure to buy Honeywell products.”

Publication date: 11/10/2000

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