Honeywell Stops its Pursuit of UTC

Honeywell has thrown in the towel, at least for now, on its pursuit of United Technologies.  In a strongly worded press release, Honeywell reiterated its previous position that the regulatory process would not have been a material obstacle to a transaction.  In addition, Honeywell claims that they "were told by them [UTC] during the meeting that such a combination would be fabulous, they would take it very seriously, and they would get back to us with questions within a week in anticipation of their upcoming Board meeting." 

We're pretty sure this won't be the last time these two companies discuss a potential combination.