Honeywell and United Technologies reportedly in tie-up talks

US aerospace outfits Honeywell and United Technologies had recently held talks regarding a possible merger that might lead to the creation of an international giant with combined sales of $94bn, according to people familiar with the situation, CNBC reported.

The talks transpired during the last two weeks and focused on Honeywell stumping up a premium, mostly in its own shares, for its smaller rival.

As of 19:14GMT shares In Honeywell were slipping 0.60% to $106.71 in NYSE trading while those of United Technologies were pacing gains on the Dow Jones Industrials with a rise of 6.09% to $93.61.