Diversified US manufacturer Honeywell International Inc has informed that it has reached a deal to buy Sperian Protection. Sperian is known to be the leading personal protection equipment maker in France. The deal has been finalized for $1.1 billion. Morris Township, New Jersey-based Honeywell has offered maximum bid for this purchase. Earlier French holding company Menelas has offered euro 70 per share in the month of March for the purchase of Sperian.

Menelas is owned by Cinven Investment Fund. But Honeywell offered euro 117 per-shares and it was the highest bid for the company. Honeywell is now making automation and control systems for large buildings as well.

The company has informed that the offer for this buy out represents 93% premium to Sperian's share price against the Menelas's bid.

A spokesperson from Honeywell has informed that the assumption of about $300 million in debt is also included in the total of $1.4 billion deal value. However, Henri-Dominque Petit, the chairman of Sperian has informed that Sperian's board has accepted the offer from Honeywell.