    [Weekly Compilation of Presidential Documents Volume 33, Number 30 (Monday, July 28, 1997)]
    [Page 1116]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on European Union Approval of the Boeing-McDonnell Douglas
    Merger

    July 23, 1997

        I am pleased that Boeing and the EU have resolved their differences
    and that the EU has agreed in principle to approve Boeing's merger with
    McDonnell Douglas. The Boeing-McDonnell Douglas merger will promote
    consolidation and efficiency in the U.S. defense industry and preserve
    the jobs of 14,000 workers at Douglas Aircraft Co. Our own independent
    Federal Trade Commission determined that the merger would not harm
    competition. We hope that the EU will give the merger final approval
    expeditiously.