Honeywell Revokes Plan to Sell Businesses

Based on its recent agreement to merge with General Electric Co (GE), Honeywell International Inc has withdrawn a plan to sell four of its businesses - including its friction materials and automotive businesses - to Questor Partners Fund II LP.

Questor and Honeywell had reached principle agreement Sept 6, 2000. Brand names involved included Bendix, JURID, and RoadTuff; the products are used in light-, medium-, and heavy-duty trucks; trailers; passenger cars; and other transportation applications.

GE agreed in October to buy Honeywell for about $53.3 billion in stock and assumed debt.

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