(Reuters) – Honeywell International is preparing to split into three independent companies, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Honeywell plans to separate its aerospace division from its automation business and move ahead with plans to spin off its advanced materials arm, the Journal reported.
The company’s shares were up 5.3% in premarket trading.
Honeywell is expected to provide a portfolio update along with its fourth-quarter earnings later on Thursday.
The company did not immediately respond to a Reuters email seeking comment. (This story has been refiled to say ‘break up,’ not ‘bear up,’ in the headline)
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Savio D’Souza)
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