United Technologies said the regulatory obstacles were too high to make a deal with Honeywell.
United Technologies has confirmed it talked with Honeywell International about the possibility of combining the two companies. But UTC said it decided the regulatory obstacles were too high to make a deal feasible.
Honeywell declined comment on the reports, but late Monday, Farmington-based UTC acknowledged that "preliminary, exploratory conversations" about a merger had been held, but had ended because it anticipated opposition from government regulators, as well as customer objections, and pricing issues.
Shares in UTC jumped almost 5 percent Monday after news reports citing anonymous sources said the two companies had held talks. The two are both huge players in aerospace and in the commercial building industry.
Pharma Ads Challenged
Rosa DeLauro wants to see an end to all those TV ads for prescription drugs, at least for a time. Connecticut’s Third District representative has introduced a bill that would place a three year moratorium on direct-to-consumer advertising by the pharmaceutical industry.
She cited misleading information and the rising cost of medicines as her main concerns. Direct-to-consumer advertising has been legal since 1997, but DeLauro said she believes health care spending should be guided by medical professionals, and not advertising executives.
Greenwich Showroom for Tesla
Tesla has signed a lease in Greenwich, where it hopes to open its first Connecticut showroom. The electric car maker is in the midst of a legislative fight to allow sales direct to the public in Connecticut, but said it wants to go ahead with educating drivers about its product in any case.
Tesla is currently seeking the necessary permissions from planning and zoning in the town, but said in its submission that the location will not be used for sales.
