Manufacturing group Honeywell has reached "agreements in principle" with its asbestos claimants suing North American Refractories Company (Narco).
Honeywell is close to agreement with an estimated 190,000 of the claims against Narco.
The agreement would allow Narco to set up a trust to settle current and future asbestos claims.
Such a settlement could be worth $2bn and up to 60m shares of common stock being pursued by Halliburton.
