Honeywell clainm that the pension liability is 4% of the purchase price. But they didn't state this until AFTER the purchase was completed. In otherwords, the stockholders are on the hook for thee pensions.
One has to wonder how many job are or are going to be lost by all this cost cutting. Morale will be hurt and new product development wil slow down as people leave the company on their own or thru terminations.
Look at what happened in Detroit Michigan and Wayne County Michigan with their pension liabilities. They have to funded for the long term. And if they're not, well you know what happened in Detroit and Wayne County. And you know what happened to pensions at Honeywell. They're now 401-k's. Pension liabilities can derail the purchase of a company by another company. Maybe Honeywell will convert those pensions into 401-k accounts. Big money saver for Honeywell and other big corporations, not so good for those who depended on the pension when they retire.