Speciality chemicals firm Johnson Matthey has agreed to slash the sale price of its Catalyst Technologies (CT) business by more than a quarter to £1.33 billion and extended the deadline for the unit’s takeover by Honeywell International.
Johnson had originally struck a deal in May to sell its CT arm to Honeywell for £1.8 billion including debts, which would have delivered net proceeds to investors of around £1.6 billion.
