Thu, Feb. 4, 6:26 PM| Thu, Feb. 4, 6:26 PM | 2 Comments
Dec. 29, 2015, 7:54 AM
- Melrose (OTC:MLSPY) has completed the £3.3B sale of its Elster Group to Honeywell (NYSE:HON), returning £2.4B of the capital to its shareholders.
- Melrose remains "optimistic" it will identify a suitable new acquisition in due course, Chairman Christopher Miller declared.
- The sale of Elster leaves the company with only Brush, an electricity generation firm, as its only remaining asset.
- Previously: Honeywell expects Elster purchase to close next week (Dec. 22 2015)
Dec. 22, 2015, 7:20 AM
- All necessary regulatory approvals have been received for Honeywell's (NYSE:HON) acquisition of the Elster Division of Melrose Industries (OTC:MLSPY), and the company anticipates to close the transaction on December 29, 2015.
- Elster is a provider of thermal gas solutions, utility smart meters, software and data analytics solutions.
- Previously: EU clears Honeywell's Elster acquisition subject to conditions (Dec. 21 2015)
Dec. 15, 2015, 7:49 AM
- Honeywell (NYSE:HON) has completed the German laboratory research chemicals business from Sigma-Aldrich (NASDAQ:SIAL), a U.S. supplier of laboratory testing materials, for approximately €105M ($120M).
- The business will be folded into Honeywell's Fine Chemicals arm.
- HON -0.5% premarket
- Previously: Honeywell to buy Sigma-Aldrich unit (Oct. 20 2015)
Nov. 16, 2015, 7:49 AM
- Honeywell (NYSE:HON) has signed an agreement to acquire privately-held Satcom1, a provider of on board communications routing software and airtime/consulting services.
- The purchase positions Honeywell to offer an all-in-one connectivity solution spanning routing software, airtime, hardware equipment, avionics, flight support services and applications.
- Satcom1 revenues for 2015 are expected to be approximately $25M.
Nov. 5, 2015, 5:59 PM
- Honeywell (NYSE:HON) agrees to acquire Canadian satellite and space components maker Com Dev International (OTCPK:CDVIF) for C$455M (US$345M) in a move to expand its presence in the space market.
- HON will get Com Dev's electrical and optical components and subsystems equipment businesses, which makes hardware components for satellites and other space-based systems; Com Dev will spin off its exactEarth subsidiary to its shareholders before the Honeywell deal closes.
Oct. 20, 2015, 8:34 AM
- Honeywell (NYSE:HON) has agreed to acquire the Germany-based research chemicals business of Sigma-Aldrich (NASDAQ:SIAL), a U.S. supplier of laboratory testing materials, for approximately €105M ($120M).
- The business makes research chemicals and other materials used in new drug discovery and medical diagnostic testing, and will be folded into Honeywell's Fine Chemicals arm.
Jul. 28, 2015, 3:15 AM
Apr. 23, 2015, 5:49 PM
- At least a half-dozen major industrial companies - including GE, Caterpillar (NYSE:CAT) Siemens (OTCPK:SIEGY), Honeywell (NYSE:HON), Dover (NYSE:DOV), Danaher (NYSE:DHR) and Emerson Electric (NYSE:EMR) - are said to be weighing offers for oilfield services assets worth $5B-$10B that Halliburton (NYSE:HAL) is preparing to sell ahead of its pending merger with Baker Hughes (NYSE:BHI), Bloomberg reports.
- HAL reportedly will send offering materials to those companies, as well as P-E firms and rival oilfield services providers, in the coming weeks; first up likely will be the drill bits unit and another that uses data to track and steer the direction of drills.
- These companies could own an edge over oilfield services companies that analysts have pegged as logical bidders for HAL’s castoffs - such as National Oilwell Varco (NYSE:NOV) and Superior Energy Services (NYSE:SPN) - because HAL might not want to give any more market share to companies that already offer the same services, preferring to sell to new players entering the market.
Mar. 6, 2015, 5:34 PM
- Honeywell (NYSE:HON) has more cash than nearly all of its peers and may be warming to big acquisitions, as its head of M&A says the company could tally $10B in acquisitions by the end of 2018, possibly in “one shot.”
- HON typically has hesitated from making big deals, but with the balance sheet containing a record $9.1B cash, "they've got to do something,” says RBC analyst Deane Dray.
- That's got Bloomberg speculating on potential targets; Woodward (NASDAQ:WWD) could make sense because it would mesh well with HON’s aerospace offerings, with other possibilities including Brady Corp. (NYSE:BRC), Motorola Solutions (NYSE:MSI) and Japan's Yokogawa Electric (OTCPK:YOKEF).
- HON made just one purchase of size last year - a $185M acquisition of Datamax-O’Neil - and Roger Fradin, appointed to head up a push for M&A, said at the company’s investor day Wednesday that he was frustrated at the pace of acquisitions.
Jul. 14, 2014, 10:32 AM
- Honeywell (HON +0.7%) has completed its sale of its Friction Materials business to Federal-Mogul (FDML +0.4%) with the aim of realigning its portfolio to match the company's focused industries. The deal is valued at ~$155M.
- "The sale of the Friction Materials business is a significant step in our effort to fully align the Honeywell portfolio around Great Positions in Good Industries," says Chairman and CEO Dave Cote.
- The company is also repositioning its Transportation Systems business segment with its Aerospace business segment to take advantage of the engineering and technology similarities between the two.
- The realignments will have no effect on the Company's historical consolidated financial position, results of operations, or cash flows.
Sep. 13, 2013, 3:53 PM
- The FTC clears Honeywell's (HON +0.2%) proposed purchase of mobile computing device maker Intermec (IN +1.2%) but requires that HON license key patents critical in making two-dimensional scanners.
- Requiring HON to license its technology gives Datalogic (DLGI.PK) access to the patents it needs to enter the U.S. market and restores competition lost due to the merger, the FTC says.
Jul. 11, 2013, 9:50 AMHoneywell (HON), Lockheed Martin (LMT) and Rockwell Collins (ROK) are reportedly among the strategic bidders that have made it to the second round of the auction for Carlyle (CG) portfolio company Arinc. Carlyle hopes to fetch $1.3-1.5B for the aerospace communications firm, which has also attracted offers from P-E firms such as Blackstone (BX). Carlyle is spending more time courting the industrial companies on the theory that they'll offer more money than the P-E funds. | Jul. 11, 2013, 9:50 AM | 3 Comments
Apr. 23, 2013, 10:08 AM
Honeywell (HON) +0.3%) says it's buying RAE Systems, a privately held gas and radiation detections systems maker, for $340M. HON says the purchase price translates to around 13x RAE Systems' estimated 2013 earnings before EBITDA. The deal is expected to close in Q213 and it won't have a material impact on HON's FY13 full-year guidance.| Apr. 23, 2013, 10:08 AM | 1 Comment
Dec. 10, 2012, 7:38 AM
Oct. 24, 2012, 9:16 AM
Honeywell (HON) will pay $130M to buy Saia Burgess Control from Hong Kong-based Johnson Electric. Saia makes programmable controllers, touch-screen panels and other equipment for heating and air conditioning systems. The deal is expected to close by the end of January. (Q3 earnings)| Oct. 24, 2012, 9:16 AM