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Join Date: 27 Apr 2010
Location:  KuwaitPosts: 303 |
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Johnson Controls offers $1.25B for Visteon unit |
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Johnson Controls Inc. has offered $1.25 billion for the automotive interiors and electronics business at Visteon Corp., saying the acquisition would expand its presence in China.
Visteon, however, was skeptical of the bid, saying that it was vague and missing important details. The auto parts company also suggested that Johnson Controls, a direct competitor, might be using the offer as a way to drag out Visteon's Chapter 11 bankruptcy reorganization. |
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