Honeywell has entered into an amended agreement to acquire Johnson Matthey’s Catalyst Technologies business for £1.325 billion, reducing the total consideration from the previously announced £1.8 billion and extending the long stop date for the transaction.
Under the revised terms, the long stop date has been extended to July 21, 2026. If certain regulatory approvals remain outstanding by that date, the long stop date may be further extended to August 21, 2026, subject to specified conditions. Completion of the transaction is anticipated by the end of August 2026, pending customary closing conditions, including receipt of required regulatory approvals.
The acquisition will combine Johnson Matthey’s Catalyst Technologies business with Honeywell’s Process Technologies capabilities. Honeywell expects the transaction to expand its installed base and create a more integrated offering across energy and process technologies, while enhancing Honeywell UOP’s capabilities across refining, petrochemical, and renewable fuels markets. The addition is also expected to strengthen Honeywell’s catalyst portfolio with complementary offerings and bolster growth in renewable fuels.
Honeywell said the transaction is expected to create synergies with its Process Technologies and Process Automation businesses, supported by the companies’ aftermarket capabilities. As closing conditions are finalized, Honeywell and Johnson Matthey will continue their existing commercial collaborations to deliver value to customers globally.
Honeywell is an integrated operating company serving industries worldwide across aerospace, building automation, industrial automation, process automation, and process technology, supported by its Honeywell Accelerator operating system and Honeywell Forge platform.
The acquisition is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year of ownership.
