Honeywell Finalizes Tender Offer for Pittway


Honeywell and Pittway Corp. have announced that Honeywell has completed a successful tender offer for the outstanding shares of Pittway common stock and Class A stock. Approximately 7.7 million shares of Pittway common stock (98 percent) and 34.5 million shares of Pittway Class A stock (97 percent) have been tendered, representing more than 97 percent of the company’s total outstanding shares.

Honeywell has accepted for payment all of the shares validly tendered at the offer price of $45.50 per share. The acquisition, which will be integrated into Honeywell’s Home & Building Control business, combines Honeywell’s expertise in systems integration and HVAC controls with Pittway’s product and distribution strength in the rapidly growing $10 billion fire and security industries. The combined entity will be a $5 billion home and building control supplier.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!

Tagged with: Industry News Business

Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.

A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!

Subscribe Today!

Get Our Newsletters