Honeywell announced it has entered into an amended agreement to acquire the Catalyst Technologies business segment of Johnson Matthey, adjusting the total consideration from £1.8 billion to £1.325 billion and extending the long stop date to July 21, 2026.
Under the revised terms, if certain regulatory approvals are not satisfied by the long stop date, it may be extended further to August 21, 2026, provided specific conditions are met. The transaction is now expected to close by the end of August 2026, subject to customary closing conditions, including receipt of required regulatory approvals.
Honeywell said the combination of Johnson Matthey’s Catalyst Technologies business with its Process Technologies capabilities is expected to unlock strategic growth by increasing its installed base and creating a more integrated offering across energy and process technologies. The company expects the transaction to expand Honeywell UOP’s capabilities through a significant installed base across refining, petrochemical and renewable fuels markets, while enhancing its catalyst portfolio with complementary offerings and strengthening renewable fuels capabilities.
The acquisition is also expected to create synergies with Honeywell’s Process Technologies and Process Automation businesses, leveraging both companies’ aftermarket capabilities. As the parties work toward satisfying the remaining closing conditions, Honeywell will continue its pre-existing commercial collaborations with Johnson Matthey to deliver value to customers globally.
The deal is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year of ownership.
