Honeywell Shopping Building Solutions Business, Report Says
The unit could be worth between $3 billion and $4 billion, according to the Wall Street Journal.
Days after speculation emerged over Honeywell’s interest in merging with United Technologies, a new development has emerged: Honeywell is shopping its building-solutions business.
The Wall Street Journal is reporting that Honeywell, based out of Morris Plains, N.J., began gauging interest on the unit three months ago. The report says the unit could be worth between $3 billion and $4 billion.
The building-solutions business is part of Honeywell’s Automation and Control Solutions (ACS) unit, which accounted for $14 billion of the company’s $38.6 billion in revenue in 2015.
It is unclear whether Honeywell would sell its building-solutions business if it ended up merging with United Technologies, according to the report. However, United Technologies admits that the potential merger “would face insurmountable regulatory obstacles and strong customer opposition.”
Stay with SSI as this story continues to develop.
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