Seeking Alpha

Visteon to buy Johnson Controls unit for $265M

  • Visteon (VC) has agreed to acquire the the automotive electronics business of Johnson Controls (JCI) for $265M in cash.
  • The deal will turn Visteon into one of the top three suppliers of automotive "cockpit" electronics with combined annual sales of $3B.
  • The unit earned FY 2013 revenue of $1.3B and EBITDA of $58M.
  • Visteon forecasts cost synergies of over $40M by 2017.
  • The company also says that it plans to sell its Visteon Interiors unit in three separate transactions to different buyers in H1.
  • Visteon expects the impact of these deals to be neutral. (PR)
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Comments (1)
  • 50 cent it is
    , contributor
    Comments (1461) | Send Message
     
    JCI is a well managed well position company
    I bought it last year when they missed consensus estimates and fell into the
    Mid 20s
    I want to thank all the investors that think missing consensus estimates has any meaning
    It is a number provided by the company,and is not derived from investor analysis
    Reacting to consensus estimates positive or negative is a fools knee jerk reaction
    But I encourage them to continue knee jerking as it provides me with entry and exit opportunities
    15 Jan 2014, 01:02 PM Reply Like
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