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Business/Financial

Justice Department Okays UTC’s Deal For Rockwell Collins, With Conditions

By Cal Biesecker

Tuesday, October 2nd, 2018

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Justice Department Okays UTC’s Deal For Rockwell Collins, With Conditions

Rockwell Collins' products include cockpit avionics. Photo: Rockwell Collins

The Department of Justice on Monday evening approved United Technologies Corp.’s [UTX] pending $30 billion acquisition of Rockwell Collins [COL], although the government requires UTC to divest two Rockwell Collins’ business units to preserve competition in the marketplace.The government said that UTX must divest the pneumatic ice protection systems and trimmable horizontal stabilizer business units to resolve competitive concerns. A complaint filed on Oct. 1 by the Justice Department said that UTC and Rockwell Collins are two of three suppliers…

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