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Around 2pm today, the press reported that the deal was off. Honeywell is being courted by another suitor, whose name has not been released.

United Technologies shares fell as much as 12 percent on concern the company may pay too much to buy Honeywell. 'United Technologies shareholders didn't like the transaction,' said Steven Roorda, an analyst with American Express Financial Advisors, which owned 1.9 million shares of United Technologies in June.

As far as who might buy HON now...
General Electric Co. and another unnamed company made offers for Honeywell, CNBC reported, without citing sources. General Electric spokesman Gary Sheffer declined to comment.

That is certainly a shame, but it really doesn't change the bright outlook that UTX has. Double digit revenue and profit growth are expected from UTX in 2001.

Always Long,
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