Finance, Taxes, Insurance
Honeywell Releases Details of Rejected UTC Bid
UTC’s Hayes dismisses offer as ‘grossly undervalued’

Honeywell on Friday released the details of a February 16 presentation to United Technologies chairman Edward Kangas and UTC chief executive Gregory Hayes outlining a proposed takeover. According to the presentation, the offer would create an immediate $36 billion cash benefit to UTC shareholders and so-called synergies worth $3.5 billion.