Honeywell International Inc. plans to acquire Johnson Matthey Plc’s Catalyst Technologies in a deal valuing the unit at £1.33 billion ($1.8 billion), securing a deal at a lower price. The British company expects to return about £1 billion of net sale proceeds to shareholders, it said Monday. Bloomberg News earlier reported that Honeywell agreed a price cut, salvaging a prior agreement from May of £1.8 billion that risked falling apart.
