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Reuters: Johnson Controls explores sale of safety gear unit

  • Johnson Controls (JCI +1%) is exploring a potential sale of its Scott Safety safety gear unit, in a deal that could fetch as much as $2B, Reuters reports.
  • JCI is in advanced stages of negotiations with potential acquirers, including Honeywell (HON +0.7%) and 3M (MMM +0.7%), according to the report.
  • A sale would free JCI from a non-core business and allow it to strengthen its balance sheet following last year's merger with Tyco.

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Johnson Controls International plc