TC will spin off into a separate public co along with another area which will be outlined maybe this week.
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Everyone who owns HON stock will have some of those shares converted to new turbo stock. ALT hope is that new company can flourish on its own out from under HON umbrella and stock goes up. Plus leaders should also see some bonus payouts for deal being done. And WS loves these since they get fees. Short term late stage action for HON. But maybe those at turbo will like it better.
I note with amusement that Honeywell is spinning off the two founder product lines - Garrett/AiReasearch turbochargers and Honeywell thermostats.
Turbo chargers were a highly respected product line with many prestigious awards. Nah. Didn't fit in with a crappy company like HON. Dump it.
Earnings call and town halls on the 20th.
I'm sure many $500 dollar bottles of wine are flowing!
Indeed! What unit is next?
This is gonna be an interesting week for those of us at Honeyhell!
https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2017/10/08/honeywell-international-hon-to-split-company-reuters.html