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Industry: Email Alert RSS FeedU.K. Office To Review Proposed GE Deal For Smiths Aerospace
Defense Daily, March 21, 2007
The United Kingdom's Office of Fair Trading (OFT) yesterday said it will review the pending $4.8 billion acquisition by General Electric [GE] of Smiths Aerospace, which is part of Britain's Smiths Group.
The deal is already being investigated by the European Commission (EC) to see if it will affect competition. The deal was first announced in January and the EC said last week it would review it on competition grounds.
The OFT plans to report to the Minister for Trade, Investment and Foreign Affairs by May 3. The investigation will examine the deal for any national security concerns.
[Copyright 2006 Access Intelligence, LLC. All rights reserved.]
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