UPDATE 2-Wilbur Ross's IAC mulls sale along with IPO-sources


* Ross sounding out potential buyers for auto business IAC * Faurecia among several auto suppliers approached-sources * Bank of America, JPMorgan also working on IPO -sources * IAC could be worth around $1.6 billion -source (Adds details on likely interested parties) By Soyoung Kim and Philipp Halstrick NEW YORK/FRANKFURT, Jan 26 (Reuters) - Representatives of billionaire investor Wilbur Ross have approached several vehicle parts makers to gauge their interest in buying his ...

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