U.S. manufacturer Honeywell International Inc will spin off its home and ADI global distribution business and transportation systems into two independent, publicly-traded companies by the end of 2018, the company said on Tuesday.
Honeywell said the two businesses were together worth $7.5 billion in annualized sales.
The changes defy calls by one of its shareholders, activist hedge fund Third Point LLC, to spin off its aerospace division.
(Reuters)
