Reuters (5/23, Ajmera) reports Honeywell International “said on Tuesday it would decide by fall this year whether to separate its aerospace business,” which Reuters says is “a move hedge fund Third Point LLC wants the U.S. industrial conglomerate to pursue.” After explaining how Third Point suggested last month that Honeywell should spin off its aerospace unit, Reuters quotes Honeywell Chief Executive Darius Adamczyk as saying, “I am aligned with Third Point … we do have an opportunity to simplify our portfolio. How we do that, well, we’re still assessing that.” The Wall Street Journal (5/23, Gryta, Subscription Publication) reports the company said at the Electrical Products Group conference in Florida that it is “modeling various scenarios” as part of the review. The Journal says Honeywell won’t make any major moves until they see the outcome of any potential US tax reform.
