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Investing.com -- Safran (EPA:SAF), a French engine and aircraft equipment manufacturer, has proposed solutions to gain EU antitrust approval for its $1.8 billion acquisition of Collins Aerospace’s flight controls business. This information was revealed in an update on the European Commission website on Monday.
The European Union’s competition regulator, following its standard policy, did not disclose details about the proposed remedies. However, it has postponed its decision deadline on Safran’s acquisition from March 21 to April 4.
The regulator is anticipated to solicit feedback from competitors and customers before determining whether to accept the proposed solutions, require additional concessions, or initiate a four-month long investigation.
In December, Safran announced the sale of its electromechanical actuation business in North America to U.S. aircraft parts manufacturer Woodward (NASDAQ:WWD). This business includes intellectual property, operational assets, staff, and customer agreements for HSTA systems. Safran stated that this deal was connected to the Collins acquisition.
In February, the EU antitrust watchdog queried competitors and customers about whether the acquisition would increase Safran’s market power, according to Reuters, citing sources.
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