It’s been 10 days since United Technologies’ merger bid was rejected by Honeywell. But as UTC Chief Executive Gregory Hayes told investors on Thursday, the company is still looking for a large acquisition.
“I wouldn’t be afraid to do a big deal,” Hayes said, as reported by Reuters. But “it’s got to be something that’s actionable … and the regulatory hurdles have to be manageable.”
Hayes’ comments are in tune with UTC’s public statements on the merger attempt, which stated back in February that a merger with Honeywell “would face insurmountable regulatory obstacles and strong customer opposition.”
Despite Hayes’ openness to an acquisition, he told investors the company is poised for “huge growth” even without a deal. His projection is based off urbanization and rising disposable incomes in the developing world.
Hayes also said there was interest from UTC’s commercial businesses — such as elevators, fire and security systems —to make an acquisition, according to the report.
