Seeking Alpha

Johnson Controls to buy Air Distribution Technologies for $1.6B

  • Johnson Controls (JCI) has agreed to acquire Air Distribution Technologies from Canada Pension Plan Investment Board for $1.6B.
  • Johnson Controls says the deal complements its existing heating, ventilation and air conditioning offerings. It also reflects the company's "commitment to invest in the buildings business as a growth platform."
  • Shares are +1.1% premarket. (PR)
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