Loading...
Loading...
United Technologies Corp.
UTX today announced that it has reached a mutual agreement with TransDigm
Group Incorporated
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in