UTX United Technologies Corporation

   By Kim Richters 
 

The European Commission said Friday that it has approved the takeover of Raytheon Co. by United Technologies Corp. on certain conditions.

The approval of the potential deal between the two U.S. defense and aerospace companies is conditional on the sale of a remedy package, the authority said.

UTC is expected to divest its military GPS receiver and anti-jamming business, while Raytheon is expected to sell its military airborne radios business.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

March 13, 2020 11:04 ET (15:04 GMT)

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