Honeywell Sells Some Japanese Stock: Honeywell Inc....

Honeywell Sells Some Japanese Stock: Honeywell Inc. announced the sale of 16% of the outstanding common stock of its Tokyo-based partner, Yamatake-Honeywell, for $280 million. The interest in Yamatake-Honeywell was acquired by a group of 10 Japanese financial institutions and industrial corporations, the controls maker said. Honeywell said proceeds from the sale would be used in the company’s announced program to repurchase up to 10 million of its own shares. A second sale of additional Yamatake-Honeywell outstanding common stock is being negotiated, Honeywell said.