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Third Point says Honeywell should spin off aerospace division
April 27, 2017 / 9:22 PM / 5 months ago

Third Point says Honeywell should spin off aerospace division

NEW YORK, April 27 (Reuters) - Third Point LLC said Honeywell International Inc. should separate its aerospace division, a move that would create more than $20 billion in shareholder value, according to the hedge fund.

Third Point, which disclosed its view on the industrials conglomerate in the hedge fund’s first quarter letter, owned 1.4 million shares of the company as of Dec. 31, 2016, according to the firm’s quarterly filing. (Reporting by Michael Flaherty; Editing by Sandra Maler)

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