02:21 PM EST, 01/13/2025 (MT Newswires) -- Honeywell International ( HON ) is planning to spin off its aerospace unit into a stand-alone company following pressure from activist investor Elliott Investment Management, Bloomberg reported Monday, citing people familiar with the matter said.

The industrial conglomerate said last month it was exploring a potential separation of its aerospace business as part of a broader strategic review roughly a month after Elliott began advocating for a breakup. The activist fund's stake in Honeywell ( HON ) has grown to around $5 billion, according to Bloomberg.

Honeywell ( HON ) didn't immediately respond to a request for comment from MT Newswires.

HON shares were up 0.7% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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