Honeywell Finalizes £1.8B Johnson Matthey Catalyst Deal

Honeywell International has finalized an agreement to acquire Johnson Matthey's Catalyst Technologies division for approximately £1.8 billion ($2.4 billion) in cash, a price above average analyst estimates. The division, which develops catalysts for the energy and chemicals sectors including sustainable aviation fuel and fertilizer production, will become part of Honeywell’s automation segment. Johnson Matthey plans to return £1.4 billion of the proceeds to shareholders as it streamlines its operations and focuses on sustainable cash generation. The sale follows pressure from activist investor Standard Investments, which previously called for a strategic review of Johnson Matthey’s business. Johnson Matthey reported solid financial results despite market challenges and anticipates continued profit growth in its remaining businesses. The acquisition is part of Honeywell's strategy to expand its chemical manufacturing and advanced catalyst technology portfolio.