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and the hunt heats up.

GE Move Flags Aerospace Consolidation;
Honeywell Pact's Message: Find Partners

By JEFF COLE and DAN MICHAELS
Staff Reporters of THE WALL STREET JOURNAL
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The surge of interest touched off by GE's largest-ever acquisition sent shares surging for diversified companies with big aerospace holdings. Rockwell International Corp., the Milwaukee company that is a major player in cockpit electronics and industrial automation, was up 14%, or $5.06, to $40.31 at 4 p.m. Monday in New York Stock Exchange composite trading. BFGoodrich Co., a large aerospace supplier that is based in Charlotte, N.C., climbed 5.4%, or $2, to $39 on the Big Board, while Cleveland's Parker-Hannifin Corp. rose $2.63, or 7.9%, to $36.
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United Technologies is sure to be a consolidator, says Michael Urfirer, an investment banker for Bear Stearns Cos., which represented Honeywell in the agreement to sell to GE, but beyond that, "I just don't see where the big buyers are." Mr. Urfirer also says that in most of the big possible transactions ahead, the best targets are the companies that have interests beyond aerospace operations.

John


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