UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

A $23 billion bid from 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 is the biggest merger in aerospace history, according to reports. It was given the go-ahead by Europe’s competition watchdog on the condition that UTC first sells businesses making actuators, pilot controls, ice protection and oxygen systems. Commissioner Margrethe Vestager, in charge of…

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