Bermuda-based Tyco International Ltd.'s $2.87 billion purchase of Raychem Corp. following an investigation that focused on the companies' share of the European market for computer touch screens.

The European Commission said the companies' combined market share was less than 30 percent and will only increase slightly through the merger. "This operation will not create or strengthen a dominant position,'' the EU executive body said in a statement.

Tyco announced in May its plans to buy Raychem, a US designer, manufacturer and distributor of electronic components. Tyco is a leader in making fire protection systems and providing electronic security.