EU to rule on $120 billion United Technologies, Raytheon deal by February 28

BRUSSELS (Reuters) – EU antitrust enforcers will rule by Feb. 28 whether to approve United Technologies Corp (N:) and U.S. contractor Raytheon Co’s (N:) bid to create a $121 billion aerospace and defense giant, a filing on the European Commission website showed.

The EU antitrust watchdog can clear the deal with or without concessions during its preliminary review or open a five-month long investigation into the deal if it has deep concerns.

United Technologies makes electronics, communications and other equipment for mainly commercial plane makers whereas Raytheon primarily supplies the U.S. government with military aircraft and missile equipment.

Both companies have sought to address competition concerns, with UTC selling a military-focused GPS unit from its subsidiary Collins and Raytheon divesting an airborne tactical radios unit to British defense company BAE Systems (L:) last week.

The deal also needs U.S. approval.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.