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 (1453) | 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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