By Foo Yun Chee
BRUSSELS (Reuters) – French aero engine maker Safran
Safran has said the deal would boost its position in making smarter and more connected aircraft, targeting planemakers such as Airbus
The merged entity would compete with U.S companies United Technologies
The European Commission, which is scheduled to rule on the deal by Dec. 21, declined to comment. Safran also declined to comment.
The proposed takeover is one of several deals in the aerospace industry which includes United Technologies Corp’s $23 billion plan to buy avionics maker Rockwell Collins Inc
The Safran, Zodiac tie-up has already been given the regulatory go-ahead in Canada, Kenya, Mexico, Russia, South Africa, Turkey, the United States and pre-authorized in South Korea. Authorities in China and Brazil are also expected to clear the deal.
(Reporting by Foo Yun Chee, additional reporting by Cyril Altmeyerhenzien in Paris; editing by Alissa de Carbonnel and David Evans)