HONEY­WELL TO SPIN OFF MUL­TI­PLE DI­VI­SIONS

USA TODAY International Edition - - MONEY -

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.

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