According to Bloomberg News, the United States Johnson Controls stated that it is appealing that it would withdraw the approval of the United States Court to China’s Wanxiang Group’s acquisition of A123’s assets. Plastic Injection Mold,Plastic Mold Manufacturer ,Hot Sell Plastic Injection Mold,Good Price Plastic Mold Taizhou Langshun Trade Co.,ltd , https://www.lsblowingmachine.com
On December 11 this year, the United States Delaware Bankruptcy Court Judge Kevin Carey approved the Wanxiang Group’s request to purchase the bankruptcy A123 property and said: “The auction price is very reasonable.†This means that Wan Xiang has defeated it. Johnson Controls and Japan NEC Corp. joint bid. Also participating in the bid is Germany's Siemens.
Johnson Controls had previously signed a memorandum with A123 to acquire the latter’s automotive battery business for US$125 million, but was abroken due to the bankruptcy of A123.
After the U.S. court approved the universal acquisition of A123, Kevin Kali said that he had received an anonymous report, and Johnson Controls was accused of undermining Wanxiang’s acquisition of A123 after its defeat.
Johnson Controls Appeal Blocks Wanxiang Group Acquisition of A123