Honeywell set to breakup under duress from activist, Bloomberg says

Facing continued pressure from activist Elliott Investment Management, Honeywell (HON) is set to proceed with a breakup, people familiar with the matter Bloomberg’s David Carnevali. The industrial conglomerate plans to split into two independent publicly traded companies, one focused on automation and the other on aerospace and defense, said the sources, who add that Honeywell could formally announce the plans with its fourth-quarter earnings scheduled to be released in early February.