Airbus CEO against Honeywell’s merger with United Technologies

Industry:    2016-02-25

Airbus Group SE (AIR.PA) Chief Executive Tom Enders said in statement on Wednesday that he did not see how a combination of Honeywell International Inc (HON.N) and United Technologies Inc (UTC) (UTX.N) would be in his company’s interests. “I am under the impression that the leadership of UTC shares my assessment,” Enders said in the emailed statement. Airbus is one of the biggest customers of both Honeywell and UTC. UTC said on Monday that a merger with Honeywell could either be blocked outright by antitrust authorities or be conditioned on significant divestitures after a lengthy and disruptive review period that would destroy shareholder value. Honeywell countered that it did not see the regulatory process as a “material obstacle” to the deal.

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