Advertisement
UK markets open in 1 hour 53 minutes

  • NIKKEI 225

    38,065.42
    +436.94 (+1.16%)
     

  • HANG SENG

    17,626.75
    +342.21 (+1.98%)
     

  • CRUDE OIL

    83.86
    +0.29 (+0.35%)
     

  • GOLD FUTURES

    2,347.70
    +5.20 (+0.22%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • Bitcoin GBP

    51,287.49
    -85.98 (-0.17%)
     

  • CMC Crypto 200

    1,388.34
    +5.77 (+0.42%)
     

  • NASDAQ Composite

    15,611.76
    -100.99 (-0.64%)
     

  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

United Technologies, Raytheon offer EU concessions over $120 bln merger deal

Reuters - UK Focus
·1-min read

BRUSSELS, Feb 24 (Reuters) - United Technologies Corp and Raytheon Co have offered concessions to address EU antitrust concerns about their plan to create a $120 billion U.S. aerospace and defence giant, a filing on the European Commission website showed on Monday.

The companies submitted their concessions on Friday. The European Commission, which did not provide details in line with its policy, extended its deadline for a decision to March 13 from Feb. 28.

In January, UTC agreed to divest a military-focused GPS unit from its subsidiary Collins while Raytheon agreed to sell an airborne tactical radios unit to British defence company BAE Systems in a bid to win regulatory clearance.

The EU competition watchdog will now seek feedback from rivals and customers before deciding whether to clear the deal, demand more concessions or open a full-scale investigation. (Reporting by Foo Yun Chee; editing by Jason Neely)