0935 ET - The separation of Honeywell's aerospace business floated by activist investor Elliott Investment Management is now looking highly likely after the industrial conglomerate on Monday highlighted the unit as part of its review of strategic alternatives, Vertical Research Partners analysts say in a research note. "It will [be] hard to put this genie back in the bottle," the analysts say. The timing of the announcement, coming about a month after Elliott called for an aerospace separation, implies that Honeywell may not be able to resist further changes to its portfolio while Elliott is trying to drive change at the company, the analysts say. (dean.seal@wsj.com)
(END) Dow Jones Newswires
December 17, 2024 09:35 ET (14:35 GMT)
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