Johnson Controls (JCI) Opens Bidding for Auto Electronics Unit to PE Firms
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Johnson Controls (NYSE: JCI) is opening talks with private equity firms over the sale of its automotive electronics unit.
The Detroit Free Press reports that the PE firms might be interested in parts of Johnson Controls' unit versus the entire thing.
China's SAIC is said to have taken an interest and Delphi Automotive (NYSE: DLPH) was also said to have take a look, but has since backed out.
Johnson Controls was first speculated to be mulling a sale of the unit earlier this year. Shares of the company are flat in early trading.
The Detroit Free Press reports that the PE firms might be interested in parts of Johnson Controls' unit versus the entire thing.
China's SAIC is said to have taken an interest and Delphi Automotive (NYSE: DLPH) was also said to have take a look, but has since backed out.
Johnson Controls was first speculated to be mulling a sale of the unit earlier this year. Shares of the company are flat in early trading.
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