How Will Honeywell (HON) Stock React to Potential Intelligrated Bid?
NEW YORK (TheStreet) -- Honeywell International (HON) - Get Report could be competing with Toyota Industries (TYIDY) to acquire a material handling automation solutions company, which could fetch for about $1.5 billion, sources told Reuters.
Honeywell, a Morris Plains, NJ-based industrial conglomerate, and the Japanese company have shown strong interest in Intelligrated, which is owned by private-equity firm Permira Advisers.
Last week, Kion (KIGRY), a German industrial truck maker, agreed to acquire Intelligrated's larger competitor Dematic for $3.25 billion as companies seek to automate their supply chains to meet the demand of faster deliveries and online sales.
The supply chain automation markets is estimated to increase 10% in the next three years, according to Kion, Reuters added.
Shares of Honeywell are unchanged at $116.32 in pre-market trading on Friday morning.
Separately, Honeywell International has a "buy" rating and a letter grade of A+ at TheStreet Ratings because of the company's revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins.
You can view the full analysis from the report here: HON
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.