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Investing.com -- Honeywell International (NASDAQ:HON) is reportedly closing in on a deal to acquire pump-and-compressor manufacturer Sundyne for approximately $2.2 billion.
The all-cash transaction is anticipated to be officially announced later on Tuesday, according to the Wall Street Journal.
Sundyne is presently under the ownership of private-equity firm Warburg Pincus, which has held the company for the past five years.
The acquisition of Sundyne would serve to strengthen Honeywell’s primary offerings around essential equipment, automation, and control systems for businesses.
This move comes as Honeywell previously announced its plans to split into three new entities. The company intends to separate its aerospace division and proceed with a spinoff of its advanced-materials sector.
However, the separation of Honeywell’s automation and aerospace businesses is not expected to be finalized until the second half of next year.
In recent times, Honeywell has been active in the merger-and-acquisition market. Since the beginning of 2023, the company has announced approximately $10 billion in acquisitions, not counting the potential Sundyne deal.
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