Honeywell Gets FTC Approval for Novar Acquisition
MORRIS TOWNSHIP, N.J.
Honeywell has received approval from the Federal Trade Commission (FTC) to go ahead with its attempt to acquire European company Novar plc. Novar is the parent company of security product supplier Intelligent Building Systems (IBS), which would be folded into Honeywell’s Automation and Control Solutions (ACS) division in the $2.4 billion deal that was announced in December.
The deal still requires the approval of the European Commission and is expected to be approved in the next few months.
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