Honeywell confirmed on 23 February that it has been in discussions with United Technologies Corporation (UTC) for about a year about a potential merger. In a press release Honeywell outlined the business case for the deal, while UTC's chief executive made media appearances doubting the likelihood of a deal. "It ain't going to happen," UTC's head, Gregory Hayes, said in an interview broadcast on CSNBC also on 23 February. "There is just no way to get it done." Honeywell, in its press release, described potential savings as a result of combining business as one of the primary reasons a deal would make sense.
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