logo
Plus   Neg
Share
Email

Antitrust Division Files Proposed Settlement To Approve UTC-Raytheon Deal

The Department of Justice stated that it is requiring United Technologies Corp. (UTX) and Raytheon Company (RTN) to divest Raytheon's military airborne radios business and UTC's military global positioning systems and large space-based optical systems businesses in order to proceed with their proposed merger. The department's Antitrust Division filed the proposed settlement that, if approved by the court, would resolve the competitive harm alleged in a civil antitrust lawsuit.

"Today's settlement protects the American taxpayer by preserving competition that leads to lower costs and higher innovation in critical military and defense products. The merger, as originally proposed, would have eliminated competition in the supply of military airborne radios and military GPS systems," said Assistant Attorney General Makan Delrahim of the Antitrust Division.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
In view of an expected growth in online shopping in the upcoming holiday season, Walmart announced its plan to hire more than 20,000 seasonal associates in its eCommerce fulfillment centers across the country. The company offers a starting hourly rate ranging from $15.75 up to $23.75 based on location, position and schedule. Tour operator TUI AG Tuesday said Summer 2020 and Winter 2020/21 capacity reduced as a result of recent volatile changes in travel restrictions amid Covid-19 pandemic. The company further announced the launch of Global Realignment Programme, aiming to permanently reduce overhead cost base by 30%. The program potentially impacts 8,000 roles. Home improvement retailer Lowe's Companies Inc. plans to install pickup lockers at all U.S. stores aiming to improve contactless delivery for online buyers amid worsening Covid-19 spread. The "Buy Online Pickup in Store" self-service lockers at its more than 1,700 stores will be available by the end of March 2021. In most major metro markets, the online pickup option will be installed by Thanksgiv
Follow RTT