USA TODAY International Edition
HONEYWELL TO SPIN OFF MULTIPLE DIVISIONS
Honeywell said Tuesday it would shrink in size and simplify its wide-ranging business by spinning off multiple divisions into two separate companies devoted to home products and transportation systems. The Morris Plains, N.J.-based giant plans to keep its aerospace division, rebuffing hedge fund investor Daniel Loeb of Third Point Capital, who had pressed for the assets to be spun into a separate company.