Market Overview

United Technologies Terminates Deal to Sell Pump, Engine Control Systems to TransDigm

Share:
Related UTX
The Ins And Outs Of Dividend Capture Strategy
What Can Help Industrial ETFs
United Tech backs full-year guidance (Seeking Alpha)
Related TDG
The Least Popular Stocks This 13F Season
Earnings Scheduled For August 9, 2016
Amid F-35 Hype, Why Are Lockheed Shares Going In Reverse? (Investor's Business Daily)

United Technologies Corp. (NYSE: UTX) today announced that it has reached a mutual agreement with TransDigm Group Incorporated (NYSE: TDG) to terminate the previously announced sale of the Goodrich Corporation pump and engine control systems business to TransDigm. The parties terminated their agreement after being informed that the U.S. Department of Justice objected to the transaction.

Sale of the pump and engine control systems unit is one of the divestitures required by regulatory authorities as a condition of UTC's acquisition of Goodrich Corporation. UTC intends to comply with its obligation to sell this business to a buyer acceptable to the U.S. Department of Justice and European Commission. Any proposed transaction would be subject to regulatory approvals in the U.S. and other jurisdictions and to other customary closing conditions.   

Posted-In: News M&A

 

Related Articles (TDG + UTX)

View Comments and Join the Discussion!