Honeywell sees no obstacles in UTC merger
24th February 2016
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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UTC admits to Honeywell merger talks – February 23, 2016
USA: United Technologies Corp (UTC) has confirmed press reports that it had been in talks with Honeywell over a potential merger. Read more…
