Honeywell International Inc. agreed to buy gas-metering company Elster for 3.3 billion pounds ($5.1 billion), in a deal that helps the U.S. conglomerate broaden its line of business.
Honeywell is buying the asset from U.K. investment firm Melrose Industries Plc, which acquired Elster in 2012 for $2.3 billion. Elster employs about 6,800 people with operations in the U.S., Germany, Britain and Slovakia, Honeywell said in a statement July 28.
Honeywell Chief Executive Officer Dave Cote said in May that he is open to considering acquisitions in water and health care as he pursues a five-year goal set in 2014 to ...
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