In particular, United Technologies has communicated to Honeywell that combining two of the world's largest players in the aerospace and commercial building segments would face insurmountable regulatory obstacles and strong customer opposition, and could either be blocked outright or conditioned on significant divestitures after a lengthy and disruptive review period that would destroy shareholder value.

United Technologies Board of Directors and management team continue to believe that UTC's world-class, global franchises have generated and will continue to generate significant cash flow through economic cycles, and its business segments are extremely well positioned to create long-term shareholder value.

United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries.