Honeywell International Inc. announced it has entered into an amended agreement to acquire the Catalyst Technologies business of Johnson Matthey, revising the total consideration to £1.325 billion from £1.8 billion and extending the transaction’s long stop date.

Under the revised terms, the long stop date has been extended to July 21, 2026, with a possible further extension to August 21, 2026, if certain regulatory approvals remain outstanding. Completion of the transaction is anticipated by the end of August 2026, subject to customary closing conditions.

Honeywell said the acquisition is expected to strengthen its Process Technologies portfolio by expanding its installed base and enhancing its catalyst offerings across refining, petrochemical and renewable fuels applications. The transaction is also expected to create synergies with Honeywell’s Process Technologies and Process Automation businesses, supported by aftermarket services capabilities.

As the companies work toward closing, Honeywell said it will continue existing commercial collaborations with Johnson Matthey. The acquisition is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year following completion.