Honeywell to acquire Johnson Matthey Catalyst Technologies business

Honeywell (HON) announced that it has entered into an amended agreement to acquire Johnson Matthey’s Catalyst Technologies business segment, which adjusts the total consideration from GBP 1.8B-GBP 1.33B and extends the long stop date to July 21, 2026. In the event that any of the regulatory approvals are not satisfied by the long stop date, the long stop date may be extended to August 21, if certain conditions are met. The combination of Johnson’s Matthey’s Catalyst Technologies business with Honeywell’s capabilities in process technologies is expected to create synergies with Honeywell’s process technologies and process automation businesses. As the parties work to meet the remaining conditions for closing, Honeywell will continue pre-existing commercial collaborations with Johnson Matthey. Completion of the transaction is anticipated by the end of August, subject to customary closing conditions, including receipt of certain regulatory approvals. The acquisition is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year of ownership.