Johnson Controls Plans $4B Equity Tender Offer

Johnson Controls announced its intention to commence a modified Dutch auction tender offer to purchase up to $4 billion of its ordinary shares. The purchase will be funded with proceeds from the Power Solutions sale.

“The Company also announced that it intends to launch a “modified Dutch auction” tender offer to purchase its ordinary shares for cash up to an aggregate purchase price of $4,000,000,000, at a per share purchase price not greater than $40.00 and not less than $36.00 in the Equity Tender Offer.”

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