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Honeywell spins off units worth $7.5 billion, keeps aerospace


(Reuters) - U.S. manufacturer Honeywell International Inc will spin off its home and ADI global distribution business and transportation systems into two independent, publicly-traded companies by end of 2018, the company said on Tuesday.

Honeywell said the two businesses were together worth $7.5 billion. The changes defy calls by one of its shareholders, activist hedge fund Third Point LLC, to spin off its aerospace division.

(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru)