Wall Street Journal: Johnson Controls in discussions to combine with Tyco International
GLENDALE — Johnson Controls, Inc. is in discussions to combine with Tyco International PLC in a deal valued at as much as $20 billion, according to The Wall Street Journal.
The deal could be announced as soon as Monday, January 25th.
Financial terms have not been disclosed.
The Milwaukee Business Journal says the combination with Tyco, which makes commercial fire and security systems, would help Johnson Controls expand outside the auto parts industry.
According to The Wall Street Journal, Johnson Controls CEO Alex Molinaroli would run the combined company.
Earlier this month, Johnson Controls officials announced a new automotive spinoff company called Adient.
It is expected that there will be an initial public offering of Adient stock in October.
The spinoff is part of an effort to transform the Glendale-based Johnson Controls into a true multi-industrial company, and to ensure it becomes less susceptible to seasonal swings in demand.
Adient will be based in Milwaukee. A floor has been leased in the 833 East building under construction in downtown Milwaukee.
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