Honeywell (HON) is preparing to split into three independent companies following similar moves by GE (GE) and others, The Wall Street Journal’s Lauren Thomas and Sharon Terlep report, citing people familiar with the matter. Honeywell plans to separate its aerospace division from its automation business and move ahead with plans to spin off its advanced materials arm, the Journal reported. The moves are the culmination of a portfolio review that Honeywell’s board and CEO Vimal Kapur launched about a year ago and as the company has come under pressure from activist investor Elliott Investor Management.
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