Johnson Matthey forced to cut sale price of Catalyst Technologies arm by £500m
Johnson Matthey has agreed to slash the sale price of its Catalyst Technologies (CT) business by £500million.The speciality chemicals firm struck a deal in May to sell its CT arm to advanced technology group Honeywell International for £1.8billion.But the pair have cut the price by more than a quarter to £1.3billion and extended the deadline for the deal to complete.Johnson Matthey said the move came ‘to reflect CT’s business performance during 2025-26’. Johnson shares slumped 16.4 per cent, or 377p, to 1927p.Johnson Matthey expects to return around £1bn in net proceeds of the deal to shareholders through an £800million special dividend and £200million share buyback programme. Price cut: Speciality chemicals firm Johnson Matthey struck a deal in May to sell its Catalyst Technologies arm to advanced technology group Honeywell International for £1.8bnThe price cut follows reports over the weekend that North Carolina-based Honeywell was considering walking away from the deal altogether due to worries over regulatory approvals and business milestones.The firms have pushed back the deadline to meet approvals and closing conditions from February 21 to July 21, with the option for it to be further extended to August 21.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Johnson Matthey forced to cut sale price of Catalyst Technologies arm by £500m
