Johnson Matthey share price steadies after Honeywell deal cut — what investors watch next
Johnson Matthey shares stabilized Tuesday after plunging 16.4% on news it cut the sale price of its Catalyst Technologies unit to Honeywell to £1.325 billion. The company now expects to return about £1 billion to shareholders, including an £800 million special dividend. CEO Liam Condon bought 5,226 shares after the selloff. The deal’s long-stop date moved to July 21, pending regulatory approval.