UK's Johnson Matthey slips after slashing price on Honeywell deal

Johnson Matthey

23/02/2026 08:18

** Johnson Matthey JMAT.L slips 16.2% to 1,929p; top loser on FTSE midcaps .FTMC

** British chemicals firm agrees to sell its catalyst technologies business to Honeywell HON.O at reduced price of 1.33 bln pounds ($1.8 bln) vs previously agreed 1.8 bln pounds

** Extends long stop date for deal to July 21

** Expects to return ~1 billion pounds to shareholders after deal completion vs 1.6 billion pounds originally anticipated

** As of last close, JMAT up ~8% so far this year

($1 = 0.7395 pounds)

 (Reporting by Prerna Bedi in Bengaluru)

 ((Prerna.Bedi@thomsonreuters.com ; +91 98052 24616))