Honeywell May Abandon Johnson Matthey Deal

Honeywell International Inc. is reportedly considering abandoning its £1.8 billion acquisition of Johnson Matthey Plc's Catalyst Technologies business. The industrial conglomerate is said to be evaluating this move due to persistent concerns about securing regulatory approvals and meeting essential business milestones. People familiar with the situation suggest a definitive decision from Honeywell could be imminent, potentially within the next few days.

While deliberations are still active and the companies might extend the timeline, a withdrawal by Honeywell would significantly impact Johnson Matthey's strategic turnaround. The British company had seen its shares surge following the May 2025 announcement of the deal, which was valued at $2.4 billion in cash for the enzymes producer.

Separately, the article details the departure of David Nemecek from law firm Kirkland & Ellis to Simpson Thacher & Bartlett. Nemecek was known for his aggressive strategies in corporate debt restructurings, often benefiting private equity owners. His exit followed controversy surrounding a lawsuit filed by former Kirkland client Optimum Communications against its lenders, which some viewed as bearing Nemecek's imprint.

Nemecek's move to lead a new capital structure solutions practice at Simpson Thacher & Bartlett marks a significant shift. His expertise has been sought after for complex capital structure challenges, and his departure raises questions about Kirkland's future use of aggressive restructuring tactics.