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United Technologies

(UTX) - Get United Technologies Corporation Report

called off merger talks with

Honeywell

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(HON) - Get Honeywell International Inc. (HON) Report

after Honeywell received another offer. The two

Dow

components confirmed Thursday night that they were in negotiations. Trading in both stocks was halted for the announcement shortly before 3 p.m. United Technologies reopened down 10.3%, later rising to a drop of 3.1%. Honeywell was up 14.6% when trading closed.