Davies Ward Reps Honeywell In $142M Matrikon Buy

Law360, New York (May 13, 2010, 5:47 PM EDT) -- Honeywell International Inc. has agreed to purchase Matrikon Inc., a Canadian company that makes monitoring systems for industrial operations, for $142 million, the companies said Thursday.

Matrikon's board of directors has unanimously approved Honeywell's offer to purchase all of its outstanding shares for CA$4.50 cash per share, a 21 percent premium over its 30-day volume weighted average share price.

Matrikon will become part of Honeywell Process Solutions, a unit of Honeywell's Automation and Control Solutions business group.

The deal is expected to strengthen Honeywell's position in...
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