Johnson still wants to buy Visteon despite his offer rejected
Johnson Controls said to be still interested in some of Visteon's business despite rejection suffered by its offer of 1.2 billion dollars (one billion euros) on Tuesday.
In a statement, the American automotive supplier said it had sent a letter to his competitor in which it reaffirmed its proposed acquisition, without giving further details.
Visteon said Tuesday its rejection of the bid from Johnson Controls for its determination to stick to its own roadmap to exit from bankruptcy.
On May 21, Johnson was caught short financial analysts by offering to buy the business vehicle interiors and electronics.
Visteon, a leading supplier of Ford, was placed last year under the protection of Chapter 11 of U.S. bankruptcy law in order to reorganize its business and to clean up its balance sheet.
In the first three months of the year, the OEM posted a net profit of 233 million against two million a year ago.