Shares of United Technologies Corp. and Honeywell International Inc. rallied in afternoon trade Monday, after CNBC said the companies had held merger talks, citing people familiar with the situation. The talks were centered on a deal in which Honeywell would offer a premium to acquire United Technologies, largely in stock but with some cash, CNBC reported. United Tech shares were last up 4.5%, while Honeywell was up 1.7%. The S&P 500 was last up 1.3%.
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