Honeywell To Buy Com Dev Int'l For $455 Million

By Wallace WitkowskiMarketWatch Pulse

Honeywell International Inc. and Com Dev International Ltd. said late Thursday that Honeywell plans to buy Com Dev for $455 million. Com Dev said investors will get $5.25 a share plus 0.1977 of a share of Exactearth Ltd., a data-services company to be spun out of Com Dev, for a total value of up to $6.54 a share. Canada-based Com Dev makes hardware components for satellites and other space-based systems. Honeywell expects the deal to close in the first quarter of 2016.

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