Here is what you need to know. Honeywell is buying Elster Group. The diversified technology and manufacturing company will pay $5.1 billion for Elster Group, a German-based energy and water business owned by the UK’s Melrose Industries. The Wall Street Journal says the takeover includes the assumption of $900 million in pension liabilities. “We expect that energy efficiency initiatives and mandates and the increased need for natural resource management will drive meaningful and sustained growth for Honeywell in the metering segment,” Honeywell Chairman and Chief Executive Dave Cote said. BP disappointed. The oil giant announced earnings of $0.07 per share, …read more
Source: Business Insider
