HONEYWELL INTERNATIONAL INC acquired Pittway Corporation for $2.2 billion, a transaction completed in February 2000, structured as Cash tender offer for all outstanding common and Class A shares at $45.50 per share.
Pittway Corporation operates in Home and Building Control (now Building Technologies), is based in United States (Chicago, Illinois). Pittway designed, manufactured and distributed security and fire systems for homes and buildings, with 1999 sales of about $1.6 billion (brands including Notifier, System Sensor, Ademco and ADI). Honeywell acquired all outstanding Pittway common and Class A stock via a $45.50-per-share tender offer, combining it with Honeywell's Home and Building Control business to create an approximately $5 billion global home-and-building-controls operation.
Create a global scale leader in home and building controls by combining Pittway's security/fire systems and distribution with Honeywell's building-controls business.
Advisory firms were not disclosed for this transaction.