
Honeywell [HON] on Thursday said it has agreed to acquire CAES Systems Holdings from the private equity firm Advent International for $1.9 billion in cash in a deal that strengthens its defense portfolio around radio frequency (RF) technology. The acquisition is expected to close in the second half of 2024 subject to regulatory approvals. Honeywell expects the deal to be accretive to adjusted earnings per share in the first year of ownership. CAES’ sales were not provided but Honeywell said…