Honeywell International Inc. is considering a separation of its Phoenix-based aerospace business more than a month after a New York-based activist investor called for the spinoff, stating it would unlock additional shareholder value and improve the company’s performance.
Honeywell said Monday its board of directors is considering the move as part of a "comprehensive business portfolio evaluation" launched by Vimal Kapur, the company’s chairman and CEO.
Honeywell has made “significant progress” on the evaluation and plans to provide an update on the effort in its fourth-quarter earnings report.
