Johnson Controls Denies Media Reports of Potential Unit Sale

Johnson Controls (NYSE: JCI  ) has issued a statement denying a media report that the company is exploring a divestment of its automotive interiors division. A Reuters article quoting "people familiar with the matter" said that the firm had retained JPMorgan Chase to advise it on such a move.

In its statement, Johnson Controls said that it "has no current intention to divest this segment."

Rather, the company said that it had retained the bank to advise it on a possible divestment of its automotive electronics segment. It said that it is in the early stages of the process.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2298199, ~/Articles/ArticleHandler.aspx, 8/20/2014 11:28:14 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement