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United Technologies Corp stays on solo path as rival Honeywell International Inc drops US$90.7B bid

With another round of Honeywell merger talks behind it, the focus now turns to United Tech's ability to operate as a stand-alone industrial conglomerate that faces headwinds from multiple sides of its business.

Aircraft parts maker Honeywell International Inc said Tuesday it scrapped its US$90.7 billion offer to purchase rival United Technologies Corp, citing the company’s unwillingness to engage in negotiations.

The move comes after United Tech rejected Honeywell’s offer last week, saying any synergies from combining the businesses would be outweighed by regulatory delays, required divestitures and customer concerns.

With another round of Honeywell merger talks behind it, the focus now turns to United Tech’s ability to operate like a stand-alone industrial conglomerate that faces headwinds from multiple sides of their business.

“Now the pressure is on for UTC to create shareholder value,” said Jeff Bialos, legislation partner with Sutherland Asbill & Brennan along with a former senior Pentagon official.

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