Honeywell’s shareholders overwhelmingly approved the proposed merger with General Electric at a special meeting held last week in Morris Township, New Jersey.
The company said approximately 74% of Honeywell’s outstanding shares were voted in favour of the GE merger. Those in favour represent approximately 98% of the votes cast. Completion of the merger, which the companies expect to occur in the first quarter of this year, is subject to regulatory approval and other customary closing conditions.
‘With today’s positive shareowner vote, we are a step closer to completing our exciting combination with General Electric,’ said Michael R. Bonsignore, Honeywell’s Chairman and CEO (pictured). ‘We are confident – and the vast majority of our shareowners today agreed – that joining the Honeywell businesses with General Electric is the best way to unlock the potential of Honeywell’s valuable products and services and deliver the consistent and superior returns that Honeywell shareowners expect and deserve.’