Honeywell has revealed that it has entered into an amended agreement to acquire Johnson Matthey’s Catalyst Technologies business segment.
Which adjusts the total consideration from £1.8 billion to £1.325 billion and extends the long stop date to July 21, 2026.
In the event that any of the regulatory approvals are not satisfied by the long stop date, the long stop date may be extended to August 21, 2026, if certain conditions are met.
The combination of Johnson’s Matthey’s Catalyst Technologies business with Honeywell’s strong capabilities in Process Technologies is expected to unlock strategic growth by increasing Honeywell’s installed base.
Therefore, creating a more integrated offering across energy and process technologies.
The collaboration also aims to expand Honeywell’s UOP capabilities with the addition of significant installed base across refining, petrochemical and renewable fuels.
It will expand Honeywell‘s existing catalyst portfolio with complementary offerings and growth in renewable capabilities.
Finally, it expects to create synergies with Honeywell’s Process Technologies and Process Automation businesses, benefitting from the companies’ aftermarket capabilities.
As the parties work to meet the remaining conditions for closing, Honeywell will continue pre-existing commercial collaborations with Johnson Matthey to drive value for customers around the world, building on their long track record of successful teaming.
Completion of the transaction is anticipated by the end of August 2026, subject to customary closing conditions, including receipt of certain regulatory approvals.
The acquisition is expected to be accretive to Honeywell‘s adjusted earnings per share in the first full year of ownership.
