Honeywell reconsidering £1.8 billion acquisition of Johnson Matthey's Catalyst Technologies business
Decision could come within days as discussions remain ongoing
Deal was part of Honeywell's push into automation and sustainability technologies
Potential collapse would be setback for Johnson Matthey's restructuring strategy
📖 Full Retelling
Honeywell International Inc is reconsidering its planned £1.8 billion ($2.4 billion) acquisition of Johnson Matthey's Catalyst Technologies business, as reported by Bloomberg News on February 21, 2026, due to growing concerns about regulatory approvals and the achievement of certain business milestones. The potential collapse of this deal would mark a significant shift in the industrial landscape, with a final decision potentially coming within days even as discussions between the two companies remain ongoing. Originally agreed upon in May 2025, the acquisition was part of Honeywell's broader strategic push into automation and sustainability-focused technologies, with the Catalyst Technologies unit producing catalysts and enzymes used in various industrial processes. For Johnson Matthey, the divestment has been central to its restructuring strategy aimed at streamlining operations and focusing more intently on clean air and platinum group metals businesses.
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS).
British multinational chemicals and sustainable technologies company
Johnson Matthey plc is a British multinational speciality chemicals and sustainable technologies company headquartered in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Catalyst Technologies Venture Capital Group was one of the first technology company incubators. It was founded in 1981 in Sunnyvale, California by Atari co-founder Nolan Bushnell and received much assistance from fellow Atari luminary, Al Alcorn. The term Catalyst Group may refer to both the com...
The potential collapse of a $2.4 billion acquisition would affect both companies' strategic plans for sustainability and automation, and could signal regulatory challenges for large tech deals. It also impacts investor confidence in the clean‑technology sector and Johnson Matthey's restructuring efforts.
Context & Background
Honeywell agreed to buy Johnson Matthey's Catalyst Technologies for $2.4 billion in May 2025
The deal was intended to expand Honeywell's automation and sustainability portfolio
Regulatory approvals and milestone achievements are cited as reasons for reconsideration
What Happens Next
A final decision is expected within days, with the possibility of the deal proceeding or falling apart. The outcome will influence Johnson Matthey's restructuring strategy and investor sentiment in the clean‑technology market.
Frequently Asked Questions
Why might Honeywell reconsider the acquisition?
Concerns over regulatory approvals and the ability to meet business milestones are prompting a reassessment.
What are the implications for Johnson Matthey if the deal falls through?
It would delay the divestment of its catalyst unit and could stall its focus on clean air and platinum group metals.
When could a final decision be made?
The companies expect to reach a conclusion within a few days.
How will this affect investors?
Investors are closely watching the outcome, as the deal was seen as a key step in reshaping Johnson Matthey's portfolio and boosting Honeywell's exposure to energy transition technologies.
Original Source
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump to raise global tariff rate to 15% after Supreme Court ruling 10% market drop could meaningfully dent U.S. consumption, BCA says BCA flags rising risk of Trump trade escalation by 2027 Is now time to double down on diversification? (South Africa Philippines Nigeria) Honeywell may walk away from Johnson Matthey catalyst deal, Bloomberg reports By Investing.com Stock Markets Published 02/21/2026, 04:13 PM Honeywell may walk away from Johnson Matthey catalyst deal, Bloomberg reports 0 JMAT -0.09% HON 1.33% Investing.com -- Honeywell International Inc (NASDAQ:HON) is weighing whether to abandon its planned acquisition of Johnson Matthey ’s Catalyst Technologies business, Bloomberg News reported, citing people familiar with the matter. Get premium news and insight by upgrading to InvestingPro According to the report, the U.S. industrial conglomerate is reconsidering the £1.8 billion ($2.4 billion) deal due to concerns around regulatory approvals and the achievement of certain business milestones. A final decision could come within days, although discussions remain ongoing and the companies could still attempt to complete the transaction. Honeywell agreed in May 2025 to acquire the unit, which produces catalysts and enzymes used in industrial processes, as part of a broader push into automation and sustainability-focused technologies. The potential collapse of the deal would mark a setback for Johnson Matthey’s restructuring strategy, which has centered on streamlining operations and focusing on clean air and platinum group metals businesses. Johnson Matthey shares surged following the original announcement and have risen nearly 60% over the past 12 months, reflecting investor optimism about the divestment and balance-sheet improvement tied to the sale. The outcome of the negotiations is being closely watched by investors, as the deal was viewed as a key step in reshaping Johnson Matthey’s portfolio while exp...
