Honeywell Building Solutions On the Market: WSJ
HONEYWELL wants to sell its Building Solutions business, which manufactures automation, sensing and security technologies for homes and commercial buildings, according to the Wall Street Journal. WSJ puts a value of $US3-4 billion on the business.
Honeywell has hired Goldman Sachs to assist, WSJ reported. The news comes a day after Honeywell confirmed it had held deal talks over the past 12 months with United Technologies Corp about a possible merger.
"We do not comment on market rumour or speculation," said Honeywell Vice President External Communications Rob Ferris in response to the reports.
Honeywell Security and Fire, which is completely independent from HBS, is not thought to be part of the speculated sale. ♦