Honeywell (HON) and Air Products (APD) jointly announced today that Honeywell has agreed to acquire Air Products’ liquefied natural gas process technology and equipment business for $1.81B in an all-cash transaction. This represents approximately 13x estimated 2024 EBITDA. This transaction, which is expected to be adjusted earnings per share accretive in the first full year of ownership is not subject to any financing conditions and is expected to close before the end of the calendar year, subject to customary closing conditions, including receipt of certain regulatory approvals.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HON:
- Honeywell (NASDAQ:HON): The Surprise Winner of the Rivian-Volkswagen Deal?
- Honeywell’s hard times coming to an end, time to buy, Barron’s says
- M&A News: Honeywell Snaps Up CAES Systems for $2B
- Honeywell to acquire CAES Systems Holdings for $1.9B in cash
- HONEYWELL TO ACQUIRE CAES TO ENHANCE DEFENSE TECHNOLOGIES ACROSS LAND, SEA, AIR AND SPACE