Europe Blocks GE/Honeywell Merger
Europe’s top court has upheld the European Commission’s July 2001 block on a $45 billion merger between Honeywell and General Electric. Both Honeywell and GE have stated that they have no intention of trying to restart the merger, which was first proposed more than four years ago. GE said that its only motivation for appealing the EC decision was to challenge certain legal aspects of the case. The judgment was controversial, in part, because it was the first time the EC had ever blocked a deal that U.S. antitrust regulators had already approved.