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AlliedSignal And Honeywell Merger ReceivesFinal Clearance From U.S. Department Of Justice
;MORRIS TOWNSHIP, N.J. and MINNEAPOLIS---AlliedSignal Inc. and Honeywell Inc. announced today that they have completed the U.S. Department of Justice (DOJ) agreement that permits the companies to close their merger under U.S. competition law.
The principal terms of the DOJ agreement are identical to those previously announced by the companies on October 4, 1999. The companies still expect to receive approval from the European Commission and to close the merger before the end of the year.
AlliedSignal Inc. is an advanced technology and manufacturing company serving customers worldwide with aerospace products and services, automotive products, chemicals, fibers, plastics and advanced materials. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. The company employs 70,400 people in some 40 countries.
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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AlliedSignal And Honeywell Merger ReceivesFinal Clearance From U.S. Department Of Justice