BFGoodrich/Coltec claim victory

BFGoodrich and Coltec Industries look set to go ahead with their merger after an arbitration panel threw out AlliedSignal's challenge to the deal.

With US Federal Trade Commission (FTC) and Pentagon approval already in hand, Coltec says it expects the merger to proceed as soon as the parties formally report back to the North Indiana US District Court which is considering the matter.

AlliedSignal sought an injunction on the grounds that the union of Coltec (with its Menasco landing gear unit) and BFGoodrich would be anti-competitive in the wheels and brakes market.

Source: Flight Daily News