Monday, December 10, 2012

Intermec Acquired by Honeywell In $600M Deal

Everett, Washington-based Intermec is being acquired by Honeywell International Inc., in a deal worth $600M in cash, the two said this morning. Thee two said they are in a definitive agreement, which has been approved by the boards of both companies. Honeywell will pay $10.00 per share in cash, which is a $48 percent premium to Intermec's closing stock price as of November 1st, when Intermec said it had hired an investment bank and was looking for a buyer. Intermec is a manufacturer of bar code scanners, RFID tags, and other supply chain and inventory management products.