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Office of the Press Secretary

For Immediate Release July 23, 1997
                  Statement by the President on EU Approval
                    of Boeing-McDonnell Douglas Merger

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 Company. 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.

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