AlliedSignal And Honeywell Receive DoJ Requests For Additional Information On Proposed Merger ; Merger Expected To Close In Fall 1999;
MORRIS TOWNSHIP, N.J. and MINNEAPOLIS---AlliedSignal Inc. and Honeywell Inc. announced today that each company has received a request for additional information from the U.S. Department of Justice in connection with their proposed merger. The companies intend to cooperate fully with the Department of Justice and comply with the request for additional information. ; The merger is subject to a number of approvals and conditions, including the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Act. This waiting period expires 20 days after the companies have substantially complied with the Department of Justice's request for additional information. The companies had anticipated this request for additional information and continue to expect the merger to close in the fall of 1999. ; As previously announced, the companies have scheduled special shareowners meetings for September 1, 1999, to approve the proposed merger. Each company will hold its meeting at their respective corporate headquarters, with the AlliedSignal meeting being held in Morristown, New Jersey, and Honeywell's meeting being held in Minneapolis, Minnesota. The record date for determining shareowners entitled to vote on the merger is July 22, 1999. Proxy material will be mailed around July 29. ; AlliedSignal Inc. is an advanced technology and manufacturing company serving customers worldwide with aerospace products and services, automotive products, chemicals, fibers, plastics and advanced materials. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. The company employs 70,400 people in some 40 countries. ; Honeywell is the world's leading provider of control technologies for buildings, homes, industry, space and aviation. The company employs 57,000 people in 95 countries and had 1998 sales of $8.4 billion.
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AlliedSignal And Honeywell Receive DoJ Requests For Additional Information On Proposed Merger ; Merger Expected To Close In Fall 1999;
