Eaton’s Cooper Deal Gets International Clearance

Eaton Corp.’s planned $11.8 billion acquisition of Ireland-based Cooper Industries received clearance from two international bodies, the component supplier said.

The deal was approved by the South Korean Fair Trade Commission and the Turkish Competition Authority, which Eaton said satisfies conditions of the planned acquisition.

The deal still needs to be approved by Eaton and Cooper shareholders, which have shareholder meetings scheduled for Oct. 26, Eaton said.

The deal, first announced in May, would be the largest acquisition by Eaton, which makes components for the trucking and automobile industries.