GE/UTC deal clear EU hurdle
I'm sure a deal of the size and scope of UTC-GE Security is bound to crawl toward its eventual closing, but at least one hurdle is apparently out of the way: The European Commission has cleared the deal under the EU Merger Regulation. According to the linked article, "The Commission concluded that the operation would not significantly impede effective competition in the European Economic Area (EEA) or in any substantial part of it. ... The proposed merger is largely complementary as UTC is mainly active in the services markets, including installation and maintenance services of fire detection and electronic security equipment, whereas GE Security is only active in the manufacture and supply of this equipment in the EEA. The Commission's market investigation confirmed that the proposed acquisition would be unlikely to raise competition concerns. On both the equipment and the services level, the increases in market shares are marginal." This would seem to imply that the acquisition is a great fit for UTC, actually. Very little overlap means very little redundancy. I think that's jibes with what most observers thought (I thought there was more overlap than actually exists, I'll admit), though there remains the question of what UTC will do with GE's access control, video, and intrusion lines. Do they keep them, or spin them off?