Deals
Elliott Amasses $5 Billion-Plus Stake in Honeywell
- Investment is the largest ever in a single stock for Elliott
- Honeywell urged to consider breaking up like industrial peers
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Elliott Investment Management has built a $5 billion-plus position in Honeywell International Inc. and is pushing the industrial giant to pursue a break up.
The activist investment firm wants Honeywell to separate into two standalone companies, one focused on aerospace and the other on automation, according to a statement on Tuesday that confirmed a Bloomberg News report.