United Technologies Corp. Gets U.S. Clearance to Buy Chubb

United Technologies Corp. (UTC) last month won clearance from U.S. antitrust officials to purchase British-based security group Chubb Plc for $1 billion.  After a preliminary review, antitrust authorities decided not to oppose the sale of Chubb to UTC, which makes Otis elevators and Black Hawk helicopters, according to a notice released by the U.S. Federal Trade Commission.

Chubb employs about 48,000 people and reported 2002 revenues of $2.5 billion. Worldwide, the company has more than 1 million customers.

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