On Monday, Honeywell International Inc. (NASDAQ:HON) announced that the company has entered into an amended agreement to acquire Johnson Matthey Plc’s (OTC:JMPLY) Catalyst Technologies business.

The company first announced the acquisition in May 2025 for 1.8 billion pounds (about $2.4 billion), valuing the deal at roughly 11 times projected 2025 EBITDA at the time of the announcement.

By integrating Catalyst Technologies with Honeywell’s Energy and Sustainability Solutions (ESS) segment, the company expects to enhance its portfolio with promising high-growth opportunities and realize substantial additional cost efficiencies.

Details

Honeywell has adjusted the total consideration for the acquisition to 1.325 billion pounds (~$1.79 billion) from 1.8 billion pounds (~$2.43 billion), with the long stop date extended to accommodate outstanding transaction requirements.

According to a Bloomberg report, Johnson Matthey shares fell as much as 17%, the most since 2021, following ...