Honeywell Offers $340M For PE-Backed Gas-Detector Maker

Law360, New York (April 23, 2013, 2:42 PM EDT) -- Honeywell International Inc. will put up $340 million to absorb RAE Systems Inc., a private equity-backed manufacturer of gas and radiation detectors, to bolster the New Jersey-headquartered company's existing product portfolio and add to its gas-detection technology, the pair said Tuesday.

The companies did not say how Honeywell, one of the largest manufacturing and technology conglomerates in the U.S., would cover its purchase. Pending a regulatory review, the transaction is expected to close in the second quarter.

California-based RAE will be folded into Honeywell's analytics unit,...
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