EU Delays Ruling On AlliedSignal, Honeywell Merger

BRUSSELS: The European Union (EU) Commission has extended its deadline for ruling on a proposed merger between U.S. companies AlliedSignal Inc. and Honeywell Inc. to Aug. 30. No reason was given for the extension. Under EU regulations, the EU Commission's routine first-phase probe lasts one month. However, this ruling can be extended by two weeks for one of three reasons: an EU member state requests referral of the case; the companies offer commitments to secure approval; or incomplete notification. An EU Commission spokesman was not immediately available to comment on which reason applied in this case. In general, the Commission declines to specify why a deadline has been extended. In the U.S., the Dept. of Justice has requested additional information from the companies regarding their proposed merger. The companies said they had expected such a request, and still expect the deal to close in the fall. AlliedSignal is an advanced technology and manufacturing company specializing in aerospace products and services, automotive products, chemicals, fibers, plastics, and advanced materials. Honeywell is the world's leading provider of control technologies for buildings, homes, industry, space and aviation. The company employs 57,000 people in 95 countries and had 1998 sales of $8.4 billion.

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