Elliott Sends Letter To The Board Of Directors Of Honeywell International Inc.

(MENAFN- PR Newswire)

Discloses More Than $5 Billion Investment

Calls for Honeywell to Separate Into Two Industry-Leading Independent Companies

Sees 51-75% Share-Price Upside Over Next Two Years

Full Letter Available at ElliottLetters

WEST PALM BEACH, Fla., Nov. 12, 2024 /PRNewswire/ -- Elliott investment Management L.P. ("Elliott"), which manages funds that together have made an investment of more than $5 billion in Honeywell International Inc. (NYSE: HON ) (the "Company" or "Honeywell"), today sent a letter to its Board of Directors calling for a simplification of Honeywell's conglomerate
structure.

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Exhibit 21 >1

As of June 30, 2024.
2	Emphasis added to quotes throughout this letter.
3	Note: Throughout this letter, we value Honeywell and its peers using an earnings-based methodology, specifically EV / EBITDA – CapEx. This approach accounts for Honeywell's relatively lower capital intensity, the differences in capital structure among peers, and is the best measure of approximating segment-level cash flow.

Media Contact:
Casey Friedman
Elliott Investment Management L.P.
(212) 478-1780
[email protected]

SOURCE Elliott Investment Management L.P.

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