NEW YORK (AP) — Industrial conglomerate Honeywell is touting the benefits of a possible combination with United Technologies and says regulators wouldn't be a big obstacle to the deal.
Honeywell International Inc. says consumers would benefit if it combined with United Technologies Corp. because the combined company would have a broader range of technologies. It also thinks the companies could cut $3.5 billion in costs after a merger and that they would be in a stronger financial position than their competitors.
United Technologies said Monday that the two sides have talked, but it decided a deal was not feasible because regulators would not let two of the largest aerospace and commercial building companies combine.
United Technologies stock jumped almost 5 percent Monday on reports the companies had discussed a merger.