Boeing has said it would take a close look at the proposed merger of Honeywell and United Technologies.
“Healthy competition in our supply chain is vitally important to Boeing and our commercial and military customers,” the company said in a statement.
“As we would with any potential combination of tier one suppliers within the aerospace and defense industry, we would anticipate taking a very close look at the potential impact on us and our customers of a Honeywell-UTC merger or acquisition,” the statement added.
The view of the US DOD are yet to be known on the proposed merger. However, in an earlier case of merger of Sikorsky with Lockheed Martin, the DOD had said it would not allow future mergers if it affected its contractors pool.
The understanding is that a shrinking contractor’s pool would lead to a monopolistic situation. This seems to be the apprehension of Boeing too as its “very close look” is most likely linked to avoiding dealing with very large suppliers without significant competition to keep price under check.
Lockheed Martin anticipates closing the acquisition on Friday, Nov 6. Lockheed Martin has received the final regulatory approval needed to close its acquisition of Sikorsky Aircraft
Apprehending hindrances to competition and innovation, the US department of defense has emphasized on opposing future deals similar to Lockheed Martins acquisition of Sikorsky. Pentagon procurement Chief Frank Kendall was quoted as saying by Reuters Wednesday that the Defense Department would not dispute Lockheeds $9 billion agreement to purchase Sikorsky, but said “it still gives rise to significant policy concerns
The US government has approved the $9 billion sale of Sikorsky Aircraft from United Technologies Corp to Lockheed Martin. “In a filing with the US Securities and Exchange Commission, Authorities in Japan and South Korea had also approved the deal, but it was waiting for other regulatory approvals,” Reuters quoted Lockheed Martin as saying in a statement Thursday
United Technologies Corp. (UTC) has won a maximum $2
United Technologies Corporation (UTC) will acquire Rockwell Collins for $140.00 per share, in cash and UTC stock, both companies announced yesterday
Honeywell has introduced a new series of self-diagnosing sensors designed to improve the performance of aircraft systems and reduce maintenance costs associated with false readings. Honeywell is introducing Integral Health Monitoring (IHM) series proximity sensors that can detect when a sensor has been damaged or otherwise impacted
Honeywell is partnering with Israel Aerospace Industries (IAI) to jointly develop a sense-and-avoid capability for IAI's Heron family of unmanned aerial systems (UASs). Selected for funding from the Binational Industrial Research and Development (BIRD) Foundation, the system will be demonstrated for the first time on the Heron medium-altitude, long-endurance (MALE) UAS platform in 2018
Honeywell has been awarded the US Air Force contract worth $75 million for the Versatile Affordable Advanced Turbine Engines (VAATE) III & Beyond program. “This contract increases the not-to-exceed ceiling for the VAATE program, which is a multiple government agency and industry joint effort to develop revolutionary and innovative technologies by the 2017 timeframe that will permit an order of magnitude increase in turbo-propulsion affordability over the year 2000 state-of-the-art technology,” the US Department of Defense announced Monday
Honeywell announced that it is no longer pursuing a strategic combination with United Technologies (UTC) due to their unwillingness to engage in negotiations. Honeywell was interested in a combination because of compelling value creation for both sets of shareholders and a readily executable transaction due to two largely complementary business portfolios
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