July 5, 1997 |
A panel of European antitrust experts, shrugging off an opposing verdict from U.S. authorities, recommended Friday that the $14-billion marriage of Boeing Co. and McDonnell Douglas Corp. be blocked on grounds that the American aerospace mega-merger, as it now stands, would harm fair trade. The group's unanimous finding, which is not the final word by the European Union, leaves open the door to new negotiations.
July 2, 1997 |
The government on Tuesday gave its blessing to the merger of two of the oldest rivals in the airplane industry, conceding that there is now room for only one of them to compete in most segments of the global aerospace market. The Federal Trade Commission, by a vote of 4 to 1, said it would not try to block Boeing Co.'s purchase of McDonnell Douglas Corp.
July 1, 1997 |
The federal government has decided not to challenge Boeing Co.'s planned purchase of McDonnell Douglas Corp., according to industry and government sources. The Federal Trade Commission has until midnight tonight to go to court to try to block the $14-billion deal, but as of Monday it had no plans to do so, sources said.
June 26, 1997 |
Boeing Co. may offer to alter a "sole supplier" provision in jetliner sales contracts with three U.S. airlines to win European Union antitrust approval for its $15-billion purchase of McDonnell Douglas Corp., an attorney familiar with the transaction said Wednesday. In the U.S., the Federal Trade Commission is expected to allow the acquisition to proceed with few concessions, if any, said two attorneys familiar with the transaction.
June 17, 1997 |
A senior Boeing executive gave voice to the conventional wisdom that commercial jets made by McDonnell Douglas will probably be discontinued if the $15-billion merger of the two aerospace companies is completed. Ron Woodard, president of Boeing's Commercial Airplane group, said his company sold more than 700 jets in 1996 compared with a paltry 38 for McDonnell Douglas, whose Douglas Aircraft division is based in Long Beach.
May 28, 1997 |
McDonnell Douglas Corp.'s $80-billion F/A-18 E/F "Super Hornet" fighter plane faces new scrutiny from congressional investigators about potential problems with its engines and landing and munitions systems, Defense Week reported.
May 24, 1997 |
The European Commission has serious concerns about the proposed merger between Boeing Co. and McDonnell Douglas Corp., and the companies would be well-advised to address them, European Union antitrust sources said Friday. Although Boeing's long-term exclusive supply deals with American Airlines, a unit of AMR Corp., and Delta Air Lines Inc. are a key problem, the sources said, scrapping those deals alone would not solve the competition problems.
May 24, 1997 |
McDonnell Douglas Co.'s Space and Defense Systems unit disclosed Friday that it no longer considers its Orange County headquarters the only choice for a big new rocket-building operation and is looking at sites in three other states. The company in December listed its Huntington Beach facility as the primary fabrication site for the Delta IV family of rockets it proposes to build for the Air Force under a $1.4-billion development contract it is seeking.
May 15, 1997 |
McDonnell Douglas Corp. and General Dynamics Corp. could reap an extra $127 million in their lawsuit against the U.S. Navy over cancellation of the A-12 stealth airplane project in 1991, according to court documents. The companies already are in line to split about $1.5 billion from the government once U.S. Claims Court Judge Robert Hodges issues a final judgment in the case, probably this summer.