Johnson Controls looks to sell Automotive Electronics BU

Johnson Controls said it had retained JPMorgan to explore the potential divestiture of its automotive electronics business segment. The company is in the preliminary stages of this process. However, after mis-representation, the company also issued the following statement. Johnson Controls issued the following statement: "Contrary to a wire service story released earlier today (March 6, 2013), Johnson Controls has not retained JPMorgan to sell its automotive interiors business segment and said it has no current intention to divest this segment. No other details are available at this time."