Honeywell spins off units worth $7.5 billion in sales keeps aerospace
Honeywell spins off units worth $7.5 billion in sales keeps aerospace, 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 the end of 2018, the company said on Tuesday.
Honeywell said the two businesses were together worth $7.5 billion in annualized sales. The changes defy calls by one of its shareholders, activist hedge fund Third Point LLC, to spin off its aerospace division.
Source:http://www.reuters.com/article/us-honeywell-spinoff/honeywell-spins-off-units-worth-7-5-billion-in-sales-keeps-aerospace-idUSKBN1CF17L
