Dhiraj Singh | Bloomberg | Getty Images
An employee, left, shows simulation system to an attendee at the Rockwell Collins booth during the Aero India air show at Air Force Station Yelahanka in Bengaluru, India.
A $23 billion bid via United Technologies Corp (UTC) to buy aircraft electronic equipment maker Rockwell Collins was approved by the European Union (EU) on Friday.
The deal between the two U.S. firms will be the biggest merger in aerospace history, according to reports. the item was given the go-ahead by Europe’s competition watchdog on the condition in which UTC first sells businesses creating actuators, pilot controls, ice protection along with also oxygen systems.
Commissioner Margrethe Vestager, in charge of EU competition policy, said UTC had satisfied concerns.
“We can allow This kind of merger to go ahead because in all the markets where we raised concerns, UTC has committed to divest activities covering the entire overlap between the two companies,” she said.
UTC, which makes Pratt & Whitney engines along with also various other plane parts, sells its products to large aircraft manufacturers such as Boeing along with also Airbus.
Boeing had expressed concerns over the merger, however gave its approval on March 19.