Honeywell Slashes Deal Price for Johnson Matthey’s Catalyst (1)

Honeywell International Inc. has slashed its price to acquire Johnson Matthey Plc’s Catalyst Technologies in a move to save the deal from falling apart.

The industrials conglomerate reached an agreement to pay £1.325 billion ($1.79 billion) for the business, it said in a statement Monday, confirming an earlier Bloomberg News report. Honeywell had been considering walking away from the transaction.

The new price is down from £1.8 billion in cash that Honeywell agreed in May to pay for the unit, which produces enzymes for industrial processes.

Johnson Matthey shares fell as much as 17%, the most since 2021, ...