Spin-off - HONEYWELL INTERNATIONAL INC
Form Type: DEF 14A
Filing Date: 2025-04-09
Corporate Action: Spin-off
Type: Update
Accession Number: 000077384025000030
Filing Summary: Honeywell International Inc. has engaged in substantial transformative initiatives in 2024, emphasizing a strategic refocus of its portfolio under the guidance of Chairman Vimal Kapur. Key highlights include planned spin-offs of its Advanced Materials business into Solstice Advanced Materials and a full separation of Aerospace Technologies, aiming to create three standalone public companies: Honeywell, Honeywell Aerospace, and Solstice Advanced Materials. These changes are anticipated to empower distinct growth strategies, optimizing value for shareholders and enhancing performance across sectors. Additionally, the Board is supporting a liability management reorganization to facilitate improved handling of environmental, asbestos, and other liabilities, aligning with the company's future transformation goals. Overall, these strategic actions are targeted at fortifying the company's market position and stimulating further growth across its diversified sectors including Industrial Automation, Aerospace, and Sustainability Solutions.
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Additional details:
Board Director Name: Vimal Kapur
Board Director Name: Darius Adamczyk
Board Director Name: William S. Ayer
Board Director Name: Robin Washington
Board Director Name: Stephen Williamson
Year End: 2024-12-31
Financial Summary: 2024 sales growth of 5%, organic sales growth of 3%. EPS grew by 3% with adjusted EPS growth of 4%. Free cash flow of $4.9 billion with a cash flow margin of 13%.
Liability Management Reorganization: Proposal to provide flexibility in managing legacy environmental and asbestos liabilities.
Acquisitions: $9 billion deployed across four acquisitions.
Annual Meeting Date: 2025-05-20
Record Date: 2025-04-01
Form Type: PRE 14A
Filing Date: 2025-03-04
Corporate Action: Spin-off
Type: New
Accession Number: 000077384025000017
Filing Summary: Honeywell International Inc. is undergoing a significant transformation, including a strategic plan to spin off its Advanced Materials business and a planned full separation of Aerospace Technologies. These steps aim to reposition Honeywell alongside other standalone companies focusing on distinct strategies to unlock value for shareholders. The company has made substantial acquisitions, deploying $9 billion across four key transactions to enhance growth and streamline its portfolio in line with key megatrends: Automation, the Future of Aviation, and the Energy Transition. The board seeks shareholder support for a liability management reorganization proposal to better manage legacy liabilities. Overall, the intent is to create three independent, publicly listed companies: Honeywell, Honeywell Aerospace, and Advanced Materials, each pursuing tailored growth strategies and expected to lead their respective industries.
Document Link: View Document
Additional details:
Lead Director: William S. Ayer
Shareowner Proposal: Independent Board Chairman
Merger Proposal: liability management reorganization
Form Type: 8-K
Filing Date: 2025-02-06
Corporate Action: Spin-off
Type: New
Accession Number: 000077384025000005
Filing Summary: On February 6, 2025, Honeywell International Inc. announced its intention to pursue a full separation of its Automation and Aerospace Technologies divisions. This planned separation, in conjunction with a previously announced plan to spin off the Advanced Materials segment, aims to create three standalone publicly listed companies. The separation is expected to be completed in the second half of 2026 and is designed to be tax-free for Honeywell shareholders. The company also reported its fourth quarter and full year 2024 earnings through a press release on the same date.
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Additional details:
Item 2 02: Results of Operations and Financial Condition
Item 7 01: Regulation FD Disclosure
Item 8 01: Other events
Form Type: 8-K
Filing Date: 2024-10-24
Corporate Action: Spin-off
Type: Update
Accession Number: 000077384024000097
Filing Summary: This document does not pertain to a spin-off.
Document Link: View Document
Additional details:
Newco Cik: unknown
Parent Cik: 773840
File Number: 1-8974
Access 12: 000077384024
:
Effective Date: 2025-10-01
Spin Off Id: 1104
Deleted: 1
Form Type: 8-K
Filing Date: 2024-10-08
Corporate Action: Spin-off
Type: New
Accession Number: 000077384024000091
Filing Summary: The document discusses Honeywell's plan to spin off its Advanced Materials business into a standalone, publicly-traded company. The transaction is intended to be tax-free for U.S. federal income tax purposes and is expected to be completed by the end of 2025 or early 2026.
Document Link: View Document
Additional details:
Newco Cik: unknown
Parent Cik: 773840
File Number: 1-8974
:
Effective Date: 2025-10-01
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