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Fly News Breaks for January 10, 2019
HON
Jan 10, 2019 | 07:10 EDT
UBS analyst Steven Winkler lowered his price target on Honeywell to $176 from $190 but said it remains a top pick for 2019 as he believes it is poised to meaningfully outperform its Industrial peers in 2019. The analyst believes Honeywell is now less cyclical, has higher growth potential, and is a more reliable cash generating business. Winkler reiterated his Buy rating on Honeywell shares.
News For HON From the Last 2 Days
HON
Mar 27, 2024 | 05:19 EDT
Honeywell announced the intention to acquire the entire share capital of Civitanavi Systems. Honeywell will initiate a voluntary tender offer to acquire all outstanding shares of Civitanavi for a purchase price of EUR 6.30 per share in cash, an equity value of approximately EUR 200M. Together with Civitanavi, Honeywell will be able to offer a broader set of technologies to its customers across the globe. The purchase price payable at closing represents a premium of approximately 27.1% to the 30-day volume-weighted average trading price of Civitanavi's stock ended on March 26, the last day of trading before the announcement of the transaction. Honeywell has already secured the commitment of Civitanavi's controlling shareholder, which owns approximately 66% of Civitanavi's outstanding shares to tender its shares. The transaction is not subject to any financing condition and is expected to close in the third quarter of 2024, subject to customary closing conditions, including among the others: receipt of required antitrust clearance; receipt of required clearances pursuant to the foreign direct investment regulations in Italy, United Kingdom and Canada and the tender of at least 95% of Civitanavi's outstanding shares.