HONEYWELL, GE WILL WAIVE RESTRICTIONS ON MERGER
MORRIS TOWNSHIP, N.J.
Honeywell Int’l and General Electric Co. announce an agreement that will allow the two companies to buy and sell assets, make employment decisions and other moves without violating the terms of their merger agreement. The European Union (E.U.) blocked the $41 billion deal July 3. GE may appeal, but analysts say the deal is dead. Honeywell CEO Michael Bonsignore resigned after the E.U.’s decision, leaving the helm to predecessor Lawrence Bossidy, who says he will streamline company operations. Bossidy indicates the Honeywell board wishes him to focus on running the company as a standalone entity, not breaking it up.
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!
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!