Honeywell for Sale - GE Buys
Oct 23, 2000 11:23 am, by Jim Pinto
Subject : Information
from the Automation List dept.
Text :
Automation Listers : I have predicted for at least a couple of years that Honeywell IAC would be sold - especially after Honeywell merged with Allied Signal in '99, and the new Honeywell was simply "milking" the old TDC installed base. Just last week, starting Sunday, 15 October 00, events precipitated the sale of all of Honeywell, through a merger with United Technologies, which was immediately pre-empted by General Electric (over the weekend, on 21 October 00) for the obvious synergies. Inevitably, Industrial Controls (IAC) will now be divested - probably to Siemens. The employees at IAC are the real losers - they have been short-changed for the better part of a decade and now they will simply get jerked around again. As part of the sequence of our earlier threads : "Automation in Decline" followed by "Companies in Trouble", I feel that the "whole" story, and the unbiased perspective, should be told. This is in my JimPinto.com eNews dated 21 October 00, which is already on the web at : http://www.jimpinto.com/enews/oct21-2000.html You can read Pinto's prognostications on the web at : http://www.jimpinto.com/commentary/honeywellsale.html I would indeed be interested in comments and feedback, from Honeywellers, and others. Cheers: jim ----------/ Jim Pinto email: jim@jimpinto.com Web: www.jimpinto.com San Diego, CA. USA ----------/
Reply

• Re: Honeywell and GE try again...
  Jul 1, 2001 9:09 pm, by Willy Smith
  06/28 18:07 GE Informed by EU That It Won't Accept New Offer, Dow Reports
  
  http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&refer=topfin&T=markets_bfgcgi_content99.ht&s2=blk&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=AOzuqnBRjR0UgSW5m
  
  HON was up $1.20 today on almost 23 million shrs. Look for carnage tomorrow if this gets confirmed.
  
  Regards,
  
  Willy Smith
  Reply
  
  
• Re: Honeywell and GE try again...
  Jun 28, 2001 1:01 pm, by JimPinto
  Walt Boyes <wboyes@ix.netcom.com> reported :
  
  >At the eleventh hour, GE and Honeywell are trying to
  >convince the European Union to let their merger go forward.
  
  Jim Pinto comments :
  
  I have reported (JimPinto.com eNews 22 June '01) :
  http://www.jimpinto.com/enews/june22-2001.html
  
  that GE will NOT proceed with the acquisition/merger
  of Honeywell, because their due diligence showed that
  the deal was simply not clean enough. I re-confirm
  that analysis.
  
  In the GE/Honeywell merger agreement, there was most likely
  a penalty for backing out of the merger. Honeywell will
  no doubt try to enforce that penalty if GE backs off without
  good reason.
  
  GE had previously said that they would not negotiate further.
  And, last week's comment from Jeffrey Immelt, GE incoming CEO,
  that there was "zero chance" of the deal going through brought
  a protest from Honeywell (who for their part insisted that
  they would "do everything possible" to make the deal happen.
  
  This new "eleventh hour" try to negotiate is, in my opinion,
  just a ploy to placate the political forces, to show that GE
  is making a good effort to make the deal happen. In reality,
  (my opinion) GE is simply trying to avoid the real possibility
  of merger-breakage penalties.
  
  I'll be covering this, and analysis of a couple of similar
  industrial automation news items, in the next issue of
  JimPinto.com eNews. Feel free to sign-up at :
  http://www.jimpinto.com/signup.html
  
  Cheers:
  jim
  ----------/
  Jim Pinto
  Tel : (858) 353-JIMP (5467)
  email : jim@jimpinto.com
  web: www.JimPinto.com
  San Diego, CA., USA
  ----------/
  Reply
  
  
• Re: Honeywell and GE try again...
  Jun 28, 2001 12:30 pm, by Willy Smith
  Walt and list,
  
  There are things I don't understand about this. If it's true that it's about protecting Euro interests, why is there is so little about it in the Euro press? There was nothing in Le Monde, and only a US wire story in BerlineOnline. This makes the Pintolian Oracle look correct.
  
  On the other hand, the US arbitrage market action makes the talk look real; and those guys are playing with mass quantities of real Federal Reserve Notes.
  
  Go figure!
  
  Willy Smith (only for himself as an opinionated individual)
  Reply
  
  
• Re: Honeywell for Sale - GE Buys
  Oct 23, 2000 4:19 pm, by Wayne Dowdle
  Kind of ironic that Honeywell IAC in Phoenix was once owned by GE and sold to Honeywell, does anybody remember the GE 4400's, 4500's which became Honeywell? Wayne Dowdle
  Reply