United Technologies merger settlement approved

May 29, 2013 by Frederic J. Frommer

(AP)—A federal judge has approved a settlement in which United Technologies Corp. will sell some of its assets as part of its $18.4 billion purchase of aerospace-parts maker Goodrich Corp., the largest merger in aircraft industry history.

The settlement between Hartford, Conn., -based United Technologies and the Justice Department was approved Wednesday by U.S. Ketanji Brown Jackson.

Assets to be sold include those used in the production of electrical power systems and aircraft engine control systems.

Last year, the Justice Department had said the merger, as first structured, would combine the only two significant suppliers of large main engine generators for aircraft in the world—resulting in higher prices, less favorable contractual terms and less innovation for several aircraft components.

Explore further: United Tech seeks $1 billion for Goodrich deal

Related Stories

United Tech to sell units to BC, Carlyle for $3.5B

July 26, 2012

(AP) — United Technologies Corp. said Wednesday that is selling three industrial-products businesses for $3.46 billion as it seeks to fund its proposed acquisition of aerospace-parts maker Goodrich Corp.

United Technologies CEO sees sequester impact

February 21, 2013

(AP)—The chief executive of United Technologies expects automatic federal budget cuts will take effect in eight days, cutting slightly into earnings of the aerospace giant.

Recommended for you

Roboticists learn to teach robots from babies

December 1, 2015

Babies learn about the world by exploring how their bodies move in space, grabbing toys, pushing things off tables and by watching and imitating what adults are doing.

Xbox gaming technology may improve X-ray precision

December 1, 2015

With the aim of producing high-quality X-rays with minimal radiation exposure, particularly in children, researchers have developed a new approach to imaging patients. Surprisingly, the new technology isn't a high-tech, high-dollar ...

Making 3-D imaging 1,000 times better

December 1, 2015

MIT researchers have shown that by exploiting the polarization of light—the physical phenomenon behind polarized sunglasses and most 3-D movie systems—they can increase the resolution of conventional 3-D imaging devices ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.