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Tuesday, October 21, 2014

EU regulators say Honeywell, DuPont refrigerant deals may be illegal, (NYSE: HON)

European Union antitrust regulators said on Tuesday that agreements between U.S. conglomerate Honeywell International Inc and chemicals company DuPont on a new global refrigerant for car air conditioners may be anti-competitive. "The cooperation they entered into in 2010... may have limited its (the refrigerant's) availability and technical development, in breach of EU antitrust rules," the European Commission said in a statement.

Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Shares of HON traded higher by 1.6% or $1.44/share to $91.44. In the past year, the shares have traded as low as $82.89 and as high as $98.09. On average, 3007990 shares of HON exchange hands on a given day and today's volume is recorded at 578626.