Aerospace Spinoff Honeywell International Inc.

Here you go, as just published (NYT) – it’ll be fun to watch this develop and the spinoff go south (or north)…
Dan Loeb Takes Aim at Honeywell, Calls for Aerospace Spinoff
The Honeywell InturVue weather radar. Credit Alan Diaz/Associated Press
Third Point, the $16 billion activist hedge fund run by Dan Loeb, has taken aim at the technology and manufacturing company Honeywell International. In a letter just issued to investors, Third Point urges Honeywell to spin off its aerospace unit.
Such a spinoff, Third Point argues, would result in a “sustained increase in shareholder value” of more than $20 billion and would prevent Honeywell from trading at a “substantial discount” to its peer group of companies, as it does now.
In the letter, Third Point, which held about 1.4 million shares of Honeywell according to its last regulatory filing, indicates that several Wall Street analysts who do research on the company share its view of the value of an aerospace spinoff. It did not name the analysts. — KATE KELLY