The European Commission, meeting in Strasbourg, France, unanimously voted to block General Electric Co.’s acquisition of Honeywell International Inc. This marks the first time a merger between two U.S. companies, already approved by American regulators, has been stopped by European regulators.
According to a statement from the Commission, it “concluded that the merger would create or strengthen dominant positions on several markets and that the remedies proposed by GE were insufficient to resolve the competition concerns.”