Honeywell International Inc. (NasdaqGS:HON) agreed to acquire Liquefied Natural Gas Process Technology and Equipment Business from Air Products and Chemicals, Inc. (NYSE:APD) for $1.8 billion on July 10, 2024. A cash consideration of $1.81 billion will be paid by Honeywell International Inc. This represents approximately 13x estimated 2024 EBITDA. Transaction is expected to be immediately accretive to Honeywell's sales growth and segment margin while also accretive to adjusted EPS in the first full year of ownership.

This transaction, which is expected to be adjusted earnings per share accretive in the first full year of ownership is not subject to any financing conditions and is subject to customary closing conditions, including receipt of certain regulatory approvals. The transaction is expected to be completed by the end of 2024.