[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.