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Honeywell International, Inc. (HON)

  • Thu, Apr. 23, 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.
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  • Fri, Mar. 6, 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.
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  • 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.
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  • 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.
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  • Jul. 11, 2013, 9:50 AM
    Honeywell (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.
  • 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.
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  • Dec. 10, 2012, 7:38 AM
    Honeywell (HON) agrees to buy Intermec (IN) for about $600M, or $10/share in cash. Intermec +25% premarket. (PR)
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  • 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)
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  • Oct. 1, 2012, 8:15 AM
    Honeywell (HON) purchases a 70% stake in Thomas Russell Co., a privately-held provider of technology and equipment for natural gas processing and treating, for $525M. HON does not expect the closing of the deal to impact its EPS guidance range for 2012 and believes the acquisition to be accretive to 2013 earnings.
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  • Jul. 5, 2012, 11:48 AM
    Ametek (AME), Danaher (DHR) and Honeywell (HON), as well as a number of P-E firms, have made it through to the next round of bidding for Bartec, a German provider of safety systems that prevent explosions in oil and gas production, Reuters reports. Bartec's owner, Swiss firm Capvis, hopes to fetch ~€600M ($765M) in the auction.
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  • May 23, 2012, 12:06 PM
    Ametek (AME), Danaher (DHR), Honeywell (HON) and Carlyle (CG) are among those interested in buying Bartec, a German provider of safety systems that prevent explosions in oil and gas production, Reuters reports. Bartec's owner, Swiss P-E firm Capvis, hopes to fetch ~€600M ($765M) in an auction.
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  • Aug. 16, 2011, 6:46 AM
    Honeywell (HON) announces it has secured regulatory approval to move forward with its purchase of EMS Technologies (EMS) through a cash tender offer of $33/share.
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  • Jun. 13, 2011, 9:12 AM
    Looking to build out its "rugged mobile-computing" and satellite communications technologies, Honeywell (HON) buys EMS Technologies (ELMG) for $33 per share. ELMG +32% premarket.
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Company Description
Honeywell International Inc is a technology & manufacturing company, serving customers with aerospace products & services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, chemicals.