United Technologies

United Technologies picks bidders for $3 billion fire and security business

United Technologies picks bidders for $3 billion fire and security business

United Technologies Corp. is starting the final round of an auction for its fire safety and security business, people familiar with the matter said.

Offers from Apax Partners and PAI Partners, as well as a joint bid from Eurazeo SE and Rhone Capital, are being considered, said the people, who asked not to be identified because the discussions are private. The asset could fetch about $3 billion, one of the people said.

No final decisions have been made and the bidders may decide against buying the asset or UTC may decide against a sale, they said. A representative for Farmington-based United Technologies, didn’t have an immediate comment. Representatives for the bidders...

38°