Investing.com — (NASDAQ:HON) is weighing whether to abandon its planned acquisition of ’s Catalyst Technologies business, Bloomberg News reported, citing people familiar with the matter.
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 expanding Honeywell’s exposure to energy transition technologies.