PCC approves Rockwell Collins Inc.’s acquisition of B/E Aerospace
15 March 2017
PRESS RELEASE 2017-006
March 15, 2017
The Philippine Competition Commission (PCC) has approved the acquisition by Rockwell Collins, Inc. of B/E Aerospace on March 13, 2017.
Rockwell Collins, Inc. is a manufacturer and supplier of aviation and integrated solutions for both commercial and government applications. Its principal products include flight deck avionics, cabin electronics, mission communications, simulation and training, and information management systems.
B/E Aerospace, Inc. is a manufacturer and supplier of aircraft cabin interior products, including cabin seating, lighting, oxygen systems, food and beverage preparation and storage equipment, galleys and lavatories. B/E has a branch in the Philippines operating a manufacturing plant in Batangas.
A newly created direct or indirect subsidiary of Rockwell, Quarterback Merger Sub Corp., will merge with and into B/E, with B/E surviving the merger as a direct or indirect subsidiary of Rockwell.
The PCC’s Mergers and Acquisitions Office (MAO) found no overlap between the parties’ products in the country.
“The merged firm does not have the ability to engage in foreclosure, post-acquisition, in any of their identified vertical and complementary products,” the PCC said. “We also find that sufficient post-acquisition competitive constraints on the merged firm remain in the market.”
PCC, the country’s anti-trust body, is mandated under the Philippine Competition Act to review mergers and acquisitions to ensure that these deals will not prejudice the interest of the consumers.