UTC admits to preliminary merger talks with Honeywell

UTC, parent of air conditioning maker Carrier, confirmed it had held preliminary exploratory talks with Honeywell about potential collaboration but did not pursue them due to regulatory, customer and valuation concerns. Reports said Honeywell had bid for UTC in a deal valuing the combined company at $94bn in sales.

“UTC, which includes air conditioning manufacturer Carrier, UTC Aerospace and Pratt & Whitney amongst its group companies, admits that it had previously engaged in preliminary, exploratory conversations about a range of potential collaborative options with Honeywell.”

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