Honeywell (HON) , an American multinational conglomerate providing engineering services and aerospace systems, will move its global retail headquarters to Westwood, Mass., Boston Business Journal reports.

The firm is moving its headquarters from Rhode Island because it is said to be seeking a tax break from Massachusettes.

Honeywell's decision comes after United Technologies Corp. (UTX)   is acquiring Rockwell Collins Inc. (COL) in a $23 billion deal that will be the largest ever in the aerospace industry when it closes.

Early last year Honeywell made a $90 billion hostile takeover offer for United Technologies.

Shares of Honeywell were falling in the final hour of trading on Thursday.

More of What's Trending on TheStreet:


More from Stocks

Amazon, Blue Origin, Tilray and Alibaba's Jack Ma - 5 Things You Must Know

Amazon, Blue Origin, Tilray and Alibaba's Jack Ma - 5 Things You Must Know

Everything You Need to Know About Closed-End Funds to Boost Your Portfolio

Everything You Need to Know About Closed-End Funds to Boost Your Portfolio

Tilray and Other Cannabis Firms Have Even More Catalysts on the Horizon

Tilray and Other Cannabis Firms Have Even More Catalysts on the Horizon

Was Tilray's Wild Day Sign of a Market Top?

Was Tilray's Wild Day Sign of a Market Top?

Dow Ends Higher on Possible Trade Thaw; Tilray Up Sharply

Dow Ends Higher on Possible Trade Thaw; Tilray Up Sharply