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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 | |
---|---|---|---|---|---|---|---|---|
1.67 | 1.91% | 89.32 | 89.98 | 89.2877 | 89.98 | 144,414 | 14:31:26 |
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
1 Year Johnson Controls Chart |
1 Month Johnson Controls Chart |
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