On this day, 28 years ago, July 25, 1997 (June 21, 1997 in the lunar calendar), shareholders of Boeing and McDonnell Douglas approved the merger. On July 25, 1997, at the company's shareholders 'meeting held by Boeing and McDonnell Douglas in the United States, shareholders approved Boeing's plan to merge McDonnell Douglas. In a vote by Boeing shareholders, the merger, worth $14 billion to $15 billion, received more than 99% of the votes in favor. McDonnell Douglas's vote was 75.8% in favor. According to the plan, the merger will officially take effect on August 1. Starting August 4, a new company that will continue to operate under the Boeing name will begin operations. The new Boeing company's share of the world's passenger aircraft market with more than 100 seats will reach 70%, far higher than the 30% share of its only competitor European Airbus. The European Union had firmly opposed the merger deal. However, after Boeing made concessions, the European Commission initially agreed to the merger on the 23rd.