Johnson Matthey slashes price on sale of key unit to Honeywell
FTSE 250 company will sell catalyst technologies business to US conglomerate for £1.3bn instead of £1.8bn
FTSE 250 company will sell catalyst technologies business to US conglomerate for £1.3bn instead of £1.8bn

Supplier of semiconductor manufacturing equipment hopes to tap into artificial intelligence boom

Sale would mark latest takeover of a London-listed industrial group

All-cash transaction values deal at $7.5bn including debt

Deal would mark latest move by a life sciences group to jettison lower-growth assets

The company is relying on a $48mn infusion from automakers to continue operating

High-tech instruments maker says its board would be minded to recommend shareholders agree to a sale