MW Honeywell reportedly splitting into three companies. Shares are surging.
By Barbara Kollmeyer
Shares of Honeywell International Inc. climbed on Thursday, after a report that the multinational conglomerate planned to split itself into three independent companies.
Honeywell will spin off its aerospace unit from its automation business and make its advanced-material arm a separate company, sources told the Wall Street Journal. Shares of Honeywell $(HON)$ rose 4.4% in premarket trading.
Honeywell announced plans to spin off the latter last October. In November, activist investor Elliott Investment Management disclosed a $5 billion stake in the company, urging it to break in two - one serving aerospace and the other automation. Weeks later, the company said it was looking at spinning off the aerospace unit.
-Barbara Kollmeyer
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February 06, 2025 05:42 ET (10:42 GMT)
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