Honeywell: Resideo spin-off now complete
(CercleFinance.com) - Honeywell has now completed the spin-off of Resideo, its former home security and low-voltage products unit, the US conglomerate said on Monday.
The distribution of Resideo common stock was effective this morning, with Honeywell distributing one Resideo common share for every six of its shares.
Resideo shares are currently trading down 4.6% at 27.8 dollars on the New York Stock Exchange.
Resideo is the second spin-off that Honeywell has completed this year after the spin-off of Garrett Motion, its former transportation systems business, which was completed on 1 October.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The distribution of Resideo common stock was effective this morning, with Honeywell distributing one Resideo common share for every six of its shares.
Resideo shares are currently trading down 4.6% at 27.8 dollars on the New York Stock Exchange.
Resideo is the second spin-off that Honeywell has completed this year after the spin-off of Garrett Motion, its former transportation systems business, which was completed on 1 October.
Copyright (c) 2018 CercleFinance.com. All rights reserved.