GE Aerospace Shares Soar on Honeywell's Endorsement of Castings Acquisition

GE Aerospace has seen its shares rise by over 3.1% after a vote of confidence from across the industry.

Honeywell Aerospace's CEO said that GE's planned castings acquisition could be positive for the broader aerospace supply chain, according to Reuters.

The deal involves GE paying $11.75 billion for Consolidated Precision Products, a producer of cast components used in jet engines and other high-stress applications.

While Honeywell's endorsement strengthens the industrial case for the deal, it does not settle the valuation debate.