Johnson Controls Denies Media Reports of Potential Unit Sale
Johnson Controls 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.
The article Johnson Controls Denies Media Reports of Potential Unit Sale originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.