Elliott Statement on Honeywell

Elliott Investment Management has released a statement supporting Honeywell's announcement of its strategic review, which includes the potential separation of its Aerospace business.

Rhea-AI Summary

Elliott Investment Management has released a statement supporting Honeywell's announcement of its strategic review, which includes the potential separation of its Aerospace business. Elliott's Partner Marc Steinberg and Managing Partner Jesse Cohn expressed confidence in the portfolio transformation being led by Vimal and his team, stating it represents the right direction for Honeywell. They anticipate the review's completion and pledged support for Honeywell's efforts to maximize its value.

Positive

• Strategic review of portfolio including potential aerospace division separation
• Support from major investor Elliott Investment Management

Negative

• None.

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WEST PALM BEACH, Fla., Dec. 16, 2024 /PRNewswire/ -- Elliott Investment Management L.P. (together with its affiliates "Elliott") today released the following statement attributed to Partner Marc Steinberg and Managing Partner Jesse Cohn regarding Honeywell International Inc. (NYSE: HON) ("Honeywell").

Elliott welcomes Honeywell's announcement today of its ongoing review of strategic alternatives, including the separation of its Aerospace business. We believe the portfolio transformation Vimal and his team are leading represents the right course for Honeywell, and we look forward to the upcoming completion of the review and to supporting Honeywell as it implements the necessary steps to realize its full value.

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $69.7 billion of assets as of June 30, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contact:
Stephen Spruiell
Elliott Investment Management L.P.
212-478-2017 
sSpruiell@elliottmgmt.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/elliott-statement-on-honeywell-302332447.html

SOURCE Elliott Investment Management L.P.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Honeywell (HON) considering for its Aerospace business in 2024?

Honeywell is conducting a strategic review that includes the potential separation of its Aerospace business, as announced in December 2024.

How has Elliott Investment Management responded to Honeywell's (HON) strategic review?

Elliott Investment Management has expressed support for Honeywell's strategic review and portfolio transformation, stating it represents the right course for the company.

What is the potential impact of Honeywell's (HON) aerospace division separation?

The potential separation of Honeywell's Aerospace business is part of a broader strategic review aimed at realizing the company's full value, though specific details are pending the review's completion.

When will Honeywell (HON) complete its strategic review of the aerospace business?

While the exact completion date wasn't specified in the announcement, Elliott Investment Management indicated they are looking forward to the upcoming completion of the review.