UK's Johnson Matthey jumps on sale of unit to Honeywell for $2.4 billion

ReutersMay 22, 2025 7:45 AM

British chemicals firm Johnson Matthey's JMAT.L shares soar to a one-year high, last up ~30% to 1,792p
JMAT to sell its catalyst technologies business to Honeywell International HON.O for 1.8 billion pounds ($2.4 billion), including debt

Co expects deal to deliver net sale proceeds of ~1.6 billion pounds to the group - 88% of which will be returned to shareholders

Stock on track for its biggest intraday pct gain on record

Shares up ~35% YTD

($1 = 0.7451 pounds)

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