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Honeywell to repatriate US$7b over two years

Published Sun, Jan 28, 2018 · 09:50 PM
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Bengaluru

US industrial conglomerate Honeywell International Inc said on Friday that it expected to bring back at least US$7 billion of the US$10 billion in cash held overseas in the next two years, taking advantage of the newly enacted tax law.

Shares of Honeywell, which makes everything from jet engines to thermostats, rose 1.97 per cent or US$3.19 to close at US$164.99 on Friday.

The cash hoard will help fuel Honeywell's M&A strategy under new chief executive Darius Adamczyk, who is looking to bolster it…

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