European Commission approves UTC's acquisition of Goodrich
The European Commission has cleared the acquisition of Goodrich Corporation by United Technologies Corporation (UTC) with conditions following a Phase II investigation. The two firms are active in the supply of aviation equipment sold principally to aircraft manufacturers such as Airbus and Boeing. A CRA team led by Bob Stillman, Ugur Akgün and Hans Zenger was retained to analyse an issue that arose during the investigation concerning whether the merger might have foreclosure effects in the supply of replacement parts and/or the supply of maintenance, repair and operations (MRO) services. While there were conditions imposed on the transaction to address certain horizontal overlaps, the Commission eventually decided to drop the conglomerate allegations related to after-markets.