Honeywell walks away from $90B bid for United Technologies

Staff Writer
Columbus CEO

NEW YORK (AP) — Honeywell is abandoning its $90 billion buyout attempt of rival United Technologies.

United Technologies Corp. had rejected the offer, saying a tie-up of the two industrial conglomerates would never be approved by anti-trust regulators.

Honeywell International Inc. said Tuesday that it's backing away because United Technologies has been unwilling to engage in negotiations.