Report: Honeywell looking to sell its building solutions business

Although its proposed merger with United Technologies Corp. may have fallen through, Honeywell still appears poised for a major shakeup. According to a story published by the Wall Street Journal on Wednesday, the company is looking to offload its building solutions business to potential buyers.

Honeywell reportedly began soliciting offers for the business, which is estimated to be worth between $3 billion and $4 billion, about three months ago. The building solutions business is part of Honeywell’s Automation and Control Solutions unit, which reportedly accounted for $14 billion of the company’s $38.6 billion in revenue last year.

Earlier this week it was revealed that Honeywell had been engaged in serious discussions with UTC about the merging the two conglomerates, but fears the deal would fail to pass muster with regulators among other concerns scuttled those talks.    

Click here to read the full WSJ story.