Official announcement from Honeywell or credible financial news sources

Elliott Management Acquires $5 Billion Stake in Honeywell, Advocates for Breakup; Stock Rises 8.8% Pre-Market

Nov 12, 2024, 01:22 PM

Elliott Management has reportedly acquired a stake exceeding $5 billion in Honeywell International Inc. This investment marks the largest single-stock stake ever amassed by Elliott. The activist investor is expected to advocate for a potential breakup of Honeywell, urging the company to consider restructuring similarly to its industrial peers. Following the news of the investment, Honeywell's stock has seen a notable increase, rising by approximately 8.8% in pre-market trading.