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 ...
Premium Content (PAID Subscription Required)
"Printer-friendly" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
•Medium- andheavy-duty truck volumes
•Historical data and much more!
Current subscribers, please login or CLICK for support information.