Visteon Corp. rejects Johnson Controls Inc.'s $1.25 billion bid for its interiors and electronics business, saying its board determined it would "negatively impact" creditors and prolong the company's stay in Chapter 11 bankruptcy, The Wall Street Journal reports. Visteon says its board unanimously rejected the unsolicited proposal from JCI and instead will move ahead on a proposal from bondholders to finance its exit from Chapter 11 as a stand-alone company. The decision to turn down ...
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