Price reduction of 4.4 billion yuan! There are changes in this chemical merger and acquisition case

Honeywell announced on February 23rd that it has revised the agreement to acquire the Catalysts Technologies business of Johnson Matthey. Under the new agreement, the total purchase price has been reduced by £475 million (approximately RMB 4.4 billion) to £1.325 billion, and the final deadline has been extended to July 21, 2026. If any regulatory approvals are still pending by the final approval deadline and certain conditions are met, the deadline can be further extended to August 21, 2026.

On May 22, 2025, Johnson Matthey, a UK chemical company, announced it will sell its Catalysts Technologies business to Honeywell for £1.8 billion.

Johnson Matthey’s Catalysts Technologies business has about 1,900 employees and is a leader in synthesis gas (methanol, ammonia, hydrogen, and formaldehyde). The deal will bring Honeywell approximately £1.6 billion in cash.

According to Johnson Matthey, as of March 31, 2025, the total assets of the Catalysts Technologies business were valued at £1.56 billion, with an underlying EBITDA of £119 million and an underlying operating profit of £92 million.

Founded in 1817, Johnson Matthey is a global specialty chemicals company with core technologies in metal chemistry, catalysis, and process engineering. It is a leading supplier of catalysts and precious metal products worldwide. After selling the Catalysts Technologies business, Johnson Matthey will be restructured into a more focused and streamlined company, concentrating on clean air and platinum group metals (PGMs) services.