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Honeywell to acquire Intermec for $600M

Honeywell (HON) announced that it has signed a definitive agreement to acquire Intermec (IN) for $10 per share in cash, or an aggregate purchase price of approximately $600M, net of cash and debt acquired. Upon completion of the acquisition, Intermec would become part of Honeywell Scanning & Mobility in Honeywell's Automation and Control Solutions business. Although the transaction would be dilutive in 2013 by 3c-4c, the estimated impact is included in the company's announced 2013 earnings per share guidance range, and Honeywell anticipates Intermec to be accretive in 2014.