Johnson Controls announces $3.2B acquisition of York International

Johnson Controls announced a $3.2 billion acquisition of York International on Aug. 24, framed by JCI leadership as platform growth giving it an air conditioning division and aftermarket/service expansion. Expected to close in December 2005 pending regulatory and shareholder approval.

“The dust has not settled yet from Johnson Controls' blockbuster acquisition of York International on Aug. 24. Days after the surprise announcement, most insiders from both parties opted not to formally comment on the $3.2 billion transaction, which caught many off guard.”

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