Reuters: EU court upholds ban on GE-Honeywell deal

[PhilipShore]

Reuters
Dec 14, 2005

http://today.reuters.com/news/NewsArticle.aspx?type=businessNews&storyID=2005-12-14T102843Z_01_HO437632_RTRUKOC_0_US-MANUFACTURING-GE-EU.xml

LUXEMBOURG (Reuters) - The European Union's second highest court on Wednesday upheld the European Commission's ban on General Electric (GE.N: Quote, Profile, Research) purchasing Honeywell International (HON.N: Quote, Profile, Research)...

The European Commission has authority to kill large mergers of companies that do a lot of business in the 25-member European Union.

The Commission's original decision was grounded in part on concerns GE would control too much of the supply chain for large commercial jet engines, corporate jet engines and small marine gas turbines.

The decision had been closely watched by the Commission, which was stung by strong criticism from the United States, including from President George W. Bush and his Cabinet.

[ananda]

1. Somebody please explain to me..

.. why any area of the world is even slightly impressed by anything BushInc says.