BRUSSELS (European Commission PR) — The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Raytheon by United Technologies Corporation (UTC). The approval is conditional on the divestiture of a remedy package.
The transaction combines UTC’s aerospace businesses and Raytheon’s defence business. Both companies are global suppliers of military systems and equipment to aircraft and guided munition producers, as well as armed forces.
“The parties will now undertake to negotiate a business resolution for Orbital’s access to the RD-180 rocket engine, subject to all necessary approvals from the U.S. and Russian governments,” Orbital said in the filing. “If a mutually agreeable resolution is not reached, Orbital will have the option to refile its lawsuit.”