“Honeywell International Inc. said it’s buyingIntermec Inc., an Everett maker of radio frequency identification (RFID) products, for $600 million.
New Jersey-based Honeywell will pay $10 per share for Intermec (NYSE: IN). Shares in Intermec were up about 23 percent, or up $1.83 to $9.79 in pre-market trading.
In May, after reporting a first-quarter adjusted loss of $12.7 million, or a loss of 21 cents per share, Patrick Byrne, president, CEO and board member was replaced by an interim CEO, Allen Lauer. Intermec said it is suspending its search to find a permanent CEO. In June, the company slashed 7 percent of its workforce, or 170 jobs…”
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