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Honeywell International on Monday received a 26% discount on its deal to acquire a business tied to the struggling chemicals industry.
Johnson Matthey said it’s lowering the sale price of the catalyst technology business it’s selling to Honeywell to £1.325 billion ($1.8 billion) from £1.8 billion, citing its recent business performance, including the deferral of key sustainable solution licensing projects and a challenging market environment. It’s also giving Honeywell more time to complete the deal.
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