The actual details of the discussions between United Technologies and Nortek are still unclear and there has been no indication of value in terms of the pricing that may have been offered.

According to the reports, as of June 27, Nortek had a total debt of $1.48 billion, which coincidentally is around the same value as the company has been reportedly valued at following the surge in share price based on this news. Nortek had filed for bankruptcy in the past in 2009, but managed to emerge from Chapter 11 protection in 2010.

John Moran from UTC, was quoted as saying that, "the company does not comment on market rumours or speculation."  And Nortek were not available for comment.

UTC has a market value of over $87 billion and has suggested that it may be looking for further acquisitions this year to the tune of $1 billion.   The group's activities and brands are numerous and diversified, but well-known brands within the fire and security sector include Kidde, Lenel, Edwards, Interlogix and Chubb security systems amongst others.  

Nortek specialises in ventilation, and the Nortek Security and Control arm of the business is a major supplier of wireless residential security systems, access control, intercoms, garage door operators, gate operators, short- and long-range radio remote controls and personal emergency reporting systems.  The Nortek portfolio also includes home automation brands.