Honeywell Not Expected to Spinoff Aerospace Unit
An announcement from Honeywell regarding its decision to retain the unit is expected in the next two weeks.
Shares of Honeywell (HON) - Get Report , an American multinational conglomerate providing engineering services and aerospace systems, were sinking during Friday morning trading after CNBC reported the company is not expected to spinoff its aerospace unit.
The announcement from Honeywell regarding its decision to retain the unit is expected in the next two weeks, the report added.
Honeywell's decision comes after United Technologies acquired Rockwell Collins (COL) in a $23 billion deal that will be the largest ever in the aerospace industry when it closes.
Early last year Honeywell made a $90 billion hostile takeover offer for United Technologies.
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