Honeywell International (HON) is preparing to split into three independent companies, separating its aerospace, automation, and advanced materials businesses, The Wall Street Journal reported Thursday, citing unnamed sources familiar with the matter.
The move follows a year-long portfolio review initiated by Chief Executive Vimal Kapur and pressure from activist investor Elliott Investment Management.
The split of Honeywell's automation and aerospace businesses is expected to be completed by H2 2026, the sources said.
The report also said the aerospace division, which is Honeywell's largest unit, generating $15 billion in 2024 revenue, would operate independently as one of the largest publicly traded aerospace suppliers.
Honeywell is expected to continue its M&A strategy, pursuing smaller acquisitions post-split, the report said.
Honeywell did not immediately respond to requests for comment from MT Newswires.
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