Honeywell Amends Agreement to Acquire Johnson Matthey's Catalyst Technologies
- Honeywell adjusts acquisition price to £1.325 billion for Johnson Matthey's Catalyst Technologies.
- The long stop date for the acquisition is extended to July 21, 2026, with a possible extension to August 21, 2026.
- The acquisition aims to enhance Honeywell's capabilities in refining, petrochemical, and renewable fuels.
- Completion is expected by the end of August 2026, subject to regulatory approvals.
Acquisition Details
Honeywell has amended its agreement to acquire Johnson Matthey's Catalyst Technologies, reducing the total consideration from £1.8 billion to £1.325 billion. The long stop date for the acquisition is set for July 21, 2026, with a potential extension to August 21, 2026, if certain conditions are met.
Strategic Growth and Synergies
The acquisition is expected to unlock strategic growth by expanding Honeywell's installed base and creating a more integrated offering across energy and process technologies. It will enhance Honeywell UOP's capabilities, particularly in refining, petrochemical, and renewable fuels, and complement its existing catalyst portfolio.
Regulatory Approvals and Timeline
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 projected to be accretive to Honeywell's adjusted earnings per share in the first full year of ownership.
Ongoing Collaborations
As the parties work to meet the remaining conditions for closing, Honeywell will continue its pre-existing commercial collaborations with Johnson Matthey to deliver value for customers globally, building on their history of successful partnerships.
Source: Honeywell