Honeywell may be sold for $40 billion

Friday, Oct. 20, 2000 | 11:08 a.m.

United Technologies Corp., one of the last old-style conglomerates that makes everything from jet engines to elevators, is expected to buy Honeywell International Inc. for about $40.3 billion in stock, executives close to the talks told the New York Times and Wall Street Journal.

The acquisition would create an industrial behemoth, bringing together Hartford-based United Technologies' Otis Elevators, Pratt & Whitney aircraft engines, Sikorsky helicopters and Carrier air-conditioners, with Morristown, N.J.-based Honeywell's aerospace, power and transportation products, specialty chemicals and home security systems.

Last year, Honeywell merged with Allied Signal.

archive