United Technologies Corp (UTC), the $54-billion aerospace and defence contractor and maker of the UH-60 Black Hawk helicopter, today received the European Union conditional approval for its $16.5 billion proposed acquisition of aircraft components maker Goodrich Corp.

Brussels-based The European Commission (EC), the antitrust regulator for the 27-member European Union, said in a statement that the Connecticut-based company will have to sell Goodrich's electrical power generation and controls for small engines business.

In June, China also approved the merger on condition that UTC divests Goodrich's electrical power generation and transmission systems businesses and 60 per cent of Aerolec, a joint venture with Thales Avionics in the next six months.

Surprisingly, the EC said the approval is also on condition that UTC grants Rolls-Royce an option to acquire Goodrich's lean burn fuel nozzle research and development project.

Source from: http://www.domain-b.com/companies/companies_u/United_Technologies/20120726_defence_contractor.html

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