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.
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.
