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Stock impact report

Honeywell considers spinning off its aerospace business amid Elliott's breakup push [CNBC]

GE Aerospace (GE) 
Last ge aerospace earnings: 4/30 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
Company Research Source: CNBC
The company, one of the last surviving U.S. conglomerates, has been on a deal-making spree this year under CEO Vimal Kapur, as it focuses on automation, aviation and energy businesses, while shedding segments that do not align with its plans. Its shares have, however, underperformed this year, attracting the attention of Elliott, which has taken a more than $5 billion stake in the company and pushed for the separation of its aerospace and automation business. Honeywell said on Monday its board had made “significant progress” on its review of strategic alternatives to date and the company would provide an update with its fourth-quarter results. Shares were up 2.2% before the bell. Elliott responded by welcoming the company's announcement. “We believe the portfolio transformation Vimal and his team are leading represents the right course for Honeywell, and we look forward to the upcoming completion of the review and to supporting Honeywell as it implements the necessary steps t Show less Read more
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