Honeywell Said to Plan Breakup Under Pressure From Elliott (1)

Honeywell International Inc. is poised to proceed with a breakup following pressure from activist Elliott Investment Management to split, people familiar with the matter said.

The Charlotte, North Carolina-based industrial conglomerate is planning to split into two independent publicly traded companies, one focused on automation and the other on aerospace and defense, according to the people.

Honeywell could formally announce the plans with its fourth-quarter earnings, which are scheduled to be released in early February, the people said, asking not to be identified discussing confidential information. The final details will need to be signed off by the company’s board, ...