Honeywell sees no obstacles in UTC merger
USA: Honeywell says it does not see the regulatory process as an obstacle to a merger with United Technologies Corporation (UTC).
Admitting that the two companies had been in talks, UTC yesterday said that it would not be pursuing collaborative options “due to significant regulatory obstacles, customer concerns and valuation issues”.
Honeywell has said it sees significant benefits in the merger, not least of which is potential savings of $3.5bn.
“We do not see the regulatory process as a material obstacle to a transaction,” Honeywell says. “In fact, a combination would benefit our customers and enhance our ability to offer a more comprehensive and compelling suite of technologies to serve their needs.”
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