Honeywell’s UOP Spin-Off Eyes $27bn Merger with Solvay and Eastman Units
SOLS•Honeywell is negotiating to merge its UOP spin-off with Solvay and Eastman Chemical’s units, forming a $27bn chemicals group. Post-merger, Honeywell would hold approximately 40% of the combined entity, with Bank of America and Goldman Sachs advising on the deal.
1. Merger Talks Structure
Honeywell is exploring a combination of its newly spun-off UOP unit with operations from Solvay and Eastman Chemical’s specialty materials business. The proposed transaction would create a standalone chemicals group valued at $27bn, with Honeywell retaining roughly 40% equity.
2. Advisory and Timeline
Bank of America and Goldman Sachs are advising on the transaction, which remains in preliminary discussions subject to due diligence and regulatory approvals. If terms are agreed and antitrust clearances secured, the merger could close by late 2026.
