Honeywell lowers its offer for Johnson Matthey’s Catalyst Technologies to £1.325B and extends the closing deadline to August 2026.
Honeywell said Monday that it had entered into an amended agreement to acquire Johnson Matthey’s Catalyst Technologies business, lowering the total consideration to £1.325 billion from £1.8 billion and extending the transaction deadline.
Under the revised terms, the so-called long stop date has been extended to July 21, 2026. If certain regulatory approvals remain outstanding, the deadline may be pushed to August 21, 2026, provided specific conditions are met. The companies said they expect the deal to close by the end of August 2026, subject to customary approvals.
The acquisition would combine Johnson Matthey’s Catalyst Technologies unit with Honeywell’s Process Technologies segment, including its UOP business, which supplies refining, petrochemical and renewable fuels technologies.
Honeywell said the transaction is expected to expand its installed base across energy and process industries, enhance its catalyst portfolio with complementary products and renewable fuels capabilities, and generate synergies across its Process Technologies and Process Automation operations. The company also pointed to opportunities tied to aftermarket services, an area where both companies maintain established customer relationships.
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As the companies work to satisfy remaining closing conditions, Honeywell said it would continue its existing commercial collaborations with Johnson Matthey.
The acquisition is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year of ownership, the company said.
