Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | May 25, 2010

Johnson Controls to acquire Visteon's Electronics Business

Johnson Controls is expressing interest in acquiring Visteon's interiors and electronics businesses. Johnson Controls is offering $1.25 billion in cash for the businesses, subject to due diligence, the execution of a definitive agreement and the approval of the Johnson Controls Board of Directors.
"We believe that Visteon's interiors and electronics businesses would be an excellent strategic fit with our Automotive Experience business," said Stephen A. Roell, Johnson Controls Chairman and Chief Executive Officer. "This acquisition would significantly expand our automotive interior technologies and capabilities. It would provide global scale and complementary products to our automotive electronics offerings. Importantly, it would broaden and deepen our global automotive customer relationships."

Johnson Controls initially contacted Visteon regarding its interest in the interiors and electronics businesses in January 2010 and made subsequent contacts on May 7 and May 20. No other terms or details of the proposed transaction have been disclosed, pending customary due diligence and negotiations.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Ad
Ad
Load more news
October 16 2017 2:56 PM V8.8.6-1