Press Release: The Commission prohibits GE’s acquisition of Honeywell

On 3 July 2001 the European Commission decided to prohibit the proposed acquisition by General Electric Co. of Honeywell Inc. This follows an in-depth investigation into the markets for aero-engines, avionics and other aircraft components and systems. In adopting this decision, the Commission concluded that the merger would create or strengthen dominant positions on several markets and that the remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell.