GE declined comment. German engineering and technology group Siemens AG also was a rumored suitor, market sources said. Tyco declined comment and Siemens was not available for comment.
Phua Young, an analyst at Merrill Lynch who follows Tyco closely, said he did not believe Tyco was among the suitors.
"At this point in time, I don't believe the proposal is Tyco," Young said. "Tyco is an acquisitive company, but at this point I don't believe it's them," he said.
"In a sense this would be a sort of hostile kind of move," he said. Tyco, he said, tends to be a value buyer, shying away from situations that could turn into bidding wars.
Shares of Tyco were rose 2-7/8 to close at 50-1/2 while GE fell 3-3/8, or more than 6 percent, to close at 52-1/4 in regular trading on the New York Stock Exchange.
The surprise development came just one day after
they were in merger talks for a deal that would have been worth about $36 billion in stock.
The boards of United Technologies and Honeywell had been meeting on Friday to discuss the deal and they were believed to be close to an agreement.
Hartford, Conn.-based United Technologies makes Otis Elevators, Pratt & Whitney aircraft engines, Sikorsky helicopters and Carrier air conditioners.
Morris Township, N.J.-based Honeywell is a leading maker of avionics, or aircraft electronics, as well as turbochargers, specialty chemicals and automated control systems.
Shares of United Technologies fell 3 to close at 65 after trading as low as 59-7/8 earlier in the day before the news that its talks with Honeywell had ended.
Honeywell rose 10-5/16 or nearly 29 percent, to close at 46 in regular trading on the New York Stock Exchange.
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