UPDATE: Delphi (DLPH), Continental, Others Said to Bid for Johnson Controls' (JCI) Division
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(Updated - April 23, 2013 12:45 PM EDT)
Delphi Automotive PLC (NYSE: DLPH) and Continental said to bid for Johnson Controls (NYSE: JCI) division.
UPDATE - The bid would be for Johnson Controls' automotive electronics unit, which may fetch upwards of $1.2 billion.
First-round bids have already been received and the company is now setting up meetings with interested parties. Others might include Valeo SA as well as Harman International (NYSE: HAR), according to Bloomberg-sourced data.
Last month, Johnson Controls said it tapped JPMorgan to advise in a sale of the unit.
Shares of Johnson Controls are up 0.6 percent Tuesday afternoon.
Delphi Automotive PLC (NYSE: DLPH) and Continental said to bid for Johnson Controls (NYSE: JCI) division.
UPDATE - The bid would be for Johnson Controls' automotive electronics unit, which may fetch upwards of $1.2 billion.
First-round bids have already been received and the company is now setting up meetings with interested parties. Others might include Valeo SA as well as Harman International (NYSE: HAR), according to Bloomberg-sourced data.
Last month, Johnson Controls said it tapped JPMorgan to advise in a sale of the unit.
Shares of Johnson Controls are up 0.6 percent Tuesday afternoon.
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