(Bloomberg) — Honeywell International Inc. mentioned it’s contemplating strategic choices, together with the potential separation of its aerospace enterprise, a month after Elliott Investment Management referred to as for a breakup of the economic group.
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Honeywell is “well-positioned for vital transformational alternate options, and we’re persevering with our deeper, extra granular exploration of their feasibility and potential timing,” Chief Executive Officer Vimal Kapur mentioned in a press release Monday.
Elliott welcomed Honeywell’s evaluation, together with the potential separation of its aerospace operations. “The portfolio transformation Vimal and his staff are main represents the appropriate course for Honeywell,” it mentioned.
Honeywell shares rose 3% in buying and selling earlier than the market open in New York. The inventory is up 8.5% this yr by way of Friday.
The activist investor final month revealed that it had taken a $5 billion-plus place in Honeywell and inspired administration to separate into two standalone corporations, one centered on aerospace and the opposite on automation.
(Updates with pre-market buying and selling)
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