MORRISTOWN (dpa-AFX) - Honeywell International Inc. is set to move forward with a breakup after pressure from activist investor Elliott Investment Management, Bloomberg reported citing people familiar with the matter.
Honeywell plans to split into two separate publicly traded companies, with one focusing on automation and the other on aerospace and defense. The formal announcement could come with its fourth-quarter earnings, scheduled to be released in early February, the report indicated.
In December 2024, Honeywell stated that it was exploring strategic alternatives, including the potential separation of its Aerospace business, to enhance shareholder value and drive growth.
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