The chief executives of 3M Co and Honeywell International Inc said the grim global economic outlook is whetting their appetite for acquisitions.When organic growth opportunities slow, major U.S. companies typically turn to buying other businesses as a way of quickly boosting their revenue.Honeywell CEO Dave Cote on Wednesday suggested that the uncertain economy has led some potential takeover targets to entertain lower-priced offers from his Morris Township, New Jersey-based company."When times are bad and everybody is uncertain about the future, that is the right time to buy," Cote told investors from Boston. "You don't' want to purchase when everybody is saying, 'Wow, things are great, this is a good time to do it,' because you're probably catching things on the peak."
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Shares of HON fell by 0.28% or $-0.17/share to $61.22. In the past year, the shares have traded as low as $41.22 and as high as $62.00. On average, 3272280 shares of HON exchange hands on a given day and today's volume is recorded at 1284102.
3M Company (3M) is a diversified technology company. Shares of MMM traded higher by 0.52% or $0.49/share to $93.92. In the past year, the shares have traded as low as $68.63 and as high as $94.30. On average, 2811110 shares of MMM exchange hands on a given day and today's volume is recorded at 1198837.
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