Elliott Sends Letter to the Board of Directors of Honeywell International Inc. | PR Newswire [Video]

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.com

, /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.

Honeywell is an iconic pillar of the American industrial complex and remains a world-class company with market-leading assets, Elliott wrote. But uneven execution, inconsistent financial results and an underperforming share price have diminished the Company’s strong record of value creation over the last five years. The conglomerate structure that once suited Honeywell no longer does, and the time has come to embrace simplification.

In order to realize its full potential, Elliott recommended that Honeywell pursue a separation of …