Honeywell Share Price Jumps Midday over FMN Acquisition Deal
Honeywell share price jumps midday over news that Flour Mills of Nigeria has acquired a majority stake in the Honeywell Flour Mills and FBN Holding stake in the food producer. The local bourse had ended weak in the just concluded week.
The market has rallied around FBN Holdings, GTCO, Nestle and United Bank for Africa stock, now driving mid-day gain on the Nigerian Exchange amidst news of the acquisition by Flour Mills of Nigeria.
In reaction to the news, investors are buying into Honeywell share which has recorded a price appreciation of about 10% by midday on Monday at the local bourse.
Currently, the equity market is trading on a bullish note following expansions in TRANSCORP (1.04%), GTCO (1.18%), UBA (1.22%), AIICO (1.59%), NESTLE (1.83%), FBNH (4.33%), and HONYFLOUR (9.73%).
Overall, the Nigerian Exchange (NGX) All-Share Index is higher by 0.10%. Read Also: ETI, GUINNESS, MTNN, NB, UBA, Others Drive Midday Gain
In a statement shared with investing public and the Nigerian Exchange, Flour Mills of Nigeria asked shareholders to exercise caution when dealing with its share until a further announcement is made.
