Honeywell does not see regulatory hurdles for United Tech deal

Tue Feb 23, 2016 4:15pm EST
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Feb 23 (Reuters) - Honeywell International Inc confirmed on Tuesday that it had engaged in deal talks with United Technologies Corp over the past year, and said it did not see regulatory process as a "material obstacle" to the deal.

"A combined Honeywell and United Technologies would maintain a strong investment grade rating, and have higher free cash flow," Honeywell said.

United Tech on Monday disclosed merger talks with Honeywell but said a deal would "face insurmountable regulatory obstacles". (Reporting by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)