Honeywell CEO Sold Stock 3 Days Before UTX Bid

The transcript discusses the sale of $36 million worth of shares by Honeywell's CEO, David Cotey, just days before a purchase offer to United Technologies. This timing has raised questions about potential insider trading, with regulatory bodies possibly investigating. The discussion covers market reactions, the possibility of prearranged trades, and the lack of comments from the involved companies.

What significant event occurred three days before United Technologies received a purchase offer?

• Honeywell acquired United Technologies.

• The SEC launched an investigation.

• United Technologies announced a merger.

• David Cotey sold $36 million worth of shares.

What was not disclosed in the filing that announced the sale of shares?

• The exact number of shares sold.

• The identity of the buyer.

• A prearranged trade agreement.

• The reason for the sale.

What is the relationship between Honeywell and United Technologies as mentioned in the transcript?

• They are competitors in the market.

• They have been in negotiations for about a year.

• They are merging companies.

• They are subsidiaries of the same parent company.

What is the potential concern for regulators regarding the timing of the share sale?

• The sale was conducted by a third party.

• The sale was not profitable.

• The sale might indicate insider trading.

• The sale was too small to be significant.

How did the market react to the acquisition offer for United Technologies?

• UTX shares were unaffected.

• UTX shares remained stable.

• UTX shares increased by 5%.

• UTX shares decreased by almost 1%.