Don’t miss the latest developments in business and finance.

Honeywell spins off units worth $7.5 billion, keeps aerospace

Image
Reuters
Last Updated : Oct 10 2017 | 4:42 PM IST

REUTERS - U.S. manufacturer Honeywell International Inc will spin off its home and ADI global distribution business and transportation systems into two independent, publicly-traded companies by end of 2018, the company said on Tuesday.

Honeywell said the two businesses were together worth $7.5 billion. The changes defy calls by one of its shareholders, activist hedge fund Third Point LLC, to spin off its aerospace division.

(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Oct 10 2017 | 4:29 PM IST

Next Story