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JCI Johnson Controls International PLC

69.43
-1.19 (-1.69%)
15 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Johnson Controls International PLC NYSE:JCI NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -1.19 -1.69% 69.43 70.17 68.61 69.95 4,533,529 01:00:00

Most Johnson Controls Unitholders Agree To Cash, Stock Swap

28/09/2009 12:08pm

Dow Jones News


Johnson Controls (NYSE:JCI)
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Most holders of Johnson Controls Inc.'s (JCI) corporate units agreed to the auto-parts and heating-systems maker's exchange offer for cash and common stock.

Earlier this month, the company swapped $400.4 million in convertible notes for cash and stock as it seeks to reduce its outstanding debt and interest expense.

About 90% of 8.5 million corporate units will be exchanged for $52.5 million in cash plus 39.3 million shares, worth about $982.1 million with Friday's close price. Johnson had offered to buy 8.55 million units, or 95% of the amount outstanding at the time.

Johnson Controls in July said it returned to profitability in its latest quarter after two-straight periods of losses and said earnings should continue to get stronger in coming quarters.

Shares closed Friday at $24.99 and weren't active premarket. The stock is up 38% so far this year, though it is off its year-earlier level by a fifth.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

 
 

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