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: Microsoft sheds some of its ad business, mapping service

Related Stories

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

Jul 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

Feb 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

Microsoft sheds some of its ad business, mapping service

8 hours ago

Microsoft is handing off some its digital advertising business to AOL and selling its street-image mapping operation to Uber, as the giant software company tries to focus on activities more relevant to its core business.

Disney merges consumer product, interactive divisions

19 hours ago

Disney is merging its consumer product and interactive divisions, a move that acknowledges the shared goals of important product lines like the Disney Infinity video game franchise and the upcoming line of wearable toys called ...

Justices won't hear Google appeal in dispute with Oracle

Jun 29, 2015

The Supreme Court is staying out of a long-running legal battle between technology giants Oracle and Google over copyright protection for a computer program that powers most of the world's smartphones and computer tablets.

User comments : 0

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.