Honeywell Considers Spinning Off Phoenix Aerospace Division amid Activist Pressure
Honeywell International Inc. is exploring the possibility of spinning off its aerospace division based in Phoenix. This consideration comes after activist investors from New York pushed for the move, suggesting that it could increase shareholder value and enhance the company’s overall performance.
On Monday, Honeywell announced that its board of directors is evaluating this potential separation as part of a broader assessment of its business portfolio led by Vimal Kapur, the company’s chairman and CEO. The company has reported making notable progress in this evaluation and intends to provide an update on this initiative during its upcoming fourth-quarter earnings report.
It’s a significant development for Honeywell and could have far-reaching implications for the company and its stakeholders. Stay tuned for more updates as this story continues to unfold.
