Honeywell takes on £900m in DB liabilities after Elster acquisition

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Honeywell International will take on the bulk of Melrose Industries' defined benefit (DB) pension schemes with the £3.3bn acquisition of its Elster business.

According to Melrose' interim results - published yesterday - the schemes being transferred have combined liabilities of £882m and an accounting deficit of £134m. Honeywell's UK arm will becom...

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