EU rumored to reject GE acquisition scheme of Honeywell

European Antitrust supervision institution has officially informed GE that it turned down the new scheme about GE¡¦s acquisition of Honeywell, overseas reports quoted Wall Street Daily as saying. However, GE spokesman refused to make comment on it.

According to the overseas report, GE planned to sell 20% shares of GE Capital Aviation Services (GECAS) to the independent investor and sell US$2.2 bln assets in Honeywell after the acquisition in order to persuade the EU to approve the acquisition scheme. Over the market expectation that EU would pass the scheme, Honeywell surged 3.24% to US$38.2 while GE also gained 1.26% to US$48.87.

Pitifully, the proposal still failed to be approved by the EU. European Anti-trust supervision institution would decide if it would approve GE to acquire Honeywell next Tuesday.

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