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Honeywell chairman says aerospace unit eyed for spinoff has performed well

Published 06/12/2017, 02:05 PM
© Reuters.  Honeywell chairman says aerospace unit eyed for spinoff has performed well
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  • Honeywell's (HON -0.4%) aerospace unit now under review as part of a proposed spinoff has performed well and has benefited from heavy investment from the company, Chairman David Cote tells Reuters.
  • Cote says HON CEO Darius Adamczyk is reviewing the unit with the company's board and there would be discussions held with investors at some point.
  • Hedge fund investor Third Point has argued in favor of the spinoff of aerospace, the company's biggest business at $14.75B in 2016 sales and which it said could create more than $20B in shareholder value.
  • Now read: General Electric (NYSE:GE): Immelt Has One Last Ace Left To Play


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