Glendale-based Johnson Controls Inc. is considering a divestiture of its automotive electronics business.
The company has retained JPMorgan Chase to explore that avenue, and is in the early stages of the process, it said in a release Wednesday.
Earlier in the day, wire service Thomson Reuters falsely reported Johnson Controls planned to sell the larger automotive experience business segment, which includes automotive electronics.
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The company also has building efficiency and power solutions divisions. It supplies most major U.S. auto companies and reported $5.2 billion in net sales for the automotive experience division in the first quarter.
