Honeywell International has renegotiated the purchase price of Johnson Matthey's Catalyst Technologies business to $1.79 billion, down from the originally agreed $2.43 billion valuation. The revised deal represents a significant reduction in the transaction's value, reflecting changed market conditions since the acquisition was first announced. The acquisition will be integrated into Honeywell's Energy and Sustainability Solutions segment upon completion.
The transaction is now expected to close by the end of August 2026, subject to customary closing conditions and regulatory approvals. The catalyst technologies business provides emissions control solutions and chemical processing technologies across industrial and environmental applications. Honeywell's acquisition of this division aligns with the company's strategic focus on sustainability-related solutions amid evolving global environmental regulations.
Market reaction to the renegotiated deal was negative, with Johnson Matthey shares declining 17% following the announcement. The price adjustment may reflect broader economic headwinds affecting industrial acquisitions or revised financial projections for the catalyst technologies division.