EU Blocks GE-Honeywell Deal
Jul. 03, 2001
STRASBOURG, France (AP) _ The European Union blocked General Electric Co.'s $41 billion purchase of Honeywell International Inc. on Tuesday, EU sources said.
The veto of the world's largest corporate merger by the EU's 20-member executive Commission was widely expected after the American companies failed to allay European fears the deal would create an unfairly dominant position in markets for jetliner engine and avionics.