secwatch.observer — SEC 8-K summary
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Issuer:     Air Products & Chemicals, Inc. (APD)
CIK:        0000002969
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001193125-24-177294
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Products sells LNG process tech & equipment business to Honeywell for $1.81B cash
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- Honeywell acquires Air Products' LNG business for $1.81B cash, representing ~13x 2024 estimated EBITDA.
- Approximately 475 employees and a 390,000 sq ft manufacturing facility in Port Manatee, FL will transfer to Honeywell.
- Transaction expected to close before end of calendar year 2024, subject to regulatory approvals.
- Air Products to focus on core industrial gas business and clean hydrogen at scale after divestiture.
- Honeywell expects the deal to be accretive to adjusted EPS and segment margin in first full year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2969/000119312524177294/0001193125-24-177294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2969/000119312524177294/d861126d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-177294

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