Honeywell Stock Hits All-Time High After Elliott Discloses More Than $5B Stake
Honeywell(HON) Investopedia·2024-11-13 00:20
KEY TAKEAWAYSHoneywell International shares jumped Tuesday to an all-time high, after Elliott Investment Management said it has built a $5 billion-plus position in the industrials conglomerate and is seeking a breakup of the company.Elliott said in a statement that it had sent a letter to Honeywell's board of directors seeking separations of the aerospace and automation businesses as standalone companies.General Electric's three-way split earlier this year has resulted in shares of the companies spun off su ...