JCI won't be A123 lender, buy offer maintained

Oct 29, 2012 | 01:18 PM | Daniel Fitzgerald

Tags  Johnson Controls, DIP financing, A123 Systems, Wanxiang Group, Daniel Fitzgerald

NEW YORK — Johnson Controls Inc. (JCI) won’t act as a debtor-in-possession (DIP) lender for A123 Systems Inc., it said, in an effort to "avoid potential delays posed by threatened legal actions from Wanxiang Group Corp."

The Milwaukee-based battery manufacturer said it maintains its $125-million offer to acquire A123’s automotive assets, as well as the stalking horse position in the bankruptcy process subject to U.S. Bankruptcy Court approval, which is expected Nov. 5.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results