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EU Blocks GE-Honeywell Deal

July 3, 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.

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