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Danfoss, Eaton Corp. agree to divest orbital motor, hydraulic steering units to get US DOJ approval for deal

( July 14, 2021, 18:05 GMT | Official Statement) -- MLex Summary: Danfoss and Eaton Corp. have agreed to divest assets from both Danfoss’s and Eaton’s orbital motor and hydraulic steering unit manufacturing businesses to proceed with their proposed asset purchase agreement. The US Department of Justice claimed that without the divestitures, the transaction would substantially lessen competition in the design, manufacture, and sale of orbital motors and hydraulic steering units used in agricultural, industrial and construction equipment in the US.Statement follows in full. Also see document below. ...

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