Reuters - JCI Looks to Sell Auto Electronics Unit

Johnson Controls Inc is speaking to private equity firms about selling its roughly $1 billion automotive electronics unit, after buyout interest from many rival auto parts suppliers faltered, writes Reuters. The unit's performance was weaker than industry bidders had expected, disappointing some interested parties and prompting Johnson Controls to reach out to a broader group of buyers. The company had not included private equity firms earlier in the auction process, writes Reuters.

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