China OKs UTC's $16.5B Goodrich Buyout With Conditions

Law360, New York (June 15, 2012, 2:00 PM EDT) -- China’s antitrust regulator signed off Friday on United Technologies Corp.’s $16.5 billion purchase of Goodrich Corp. on the condition that the aircraft equipment maker sell off parts of its power systems business.

China's Ministry of Commerce applied several restrictions to the merger, saying that without divestiture, the regulator was concerned over the merger’s competitive effect on several aircraft-related markets, including aircraft power systems and aircraft engine control system.

“Upon review, the Commerce Department decided to attach restrictive conditions of approval,” the regulator said, adding that it...
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