Johnson Controls, Inc. (JCI) (1.1%) (JCI – $46.53 – NYSE), based in Milwaukee, Wisconsin, is a diversified industrial company undergoing significant financial engineering. On October 1, Johnson Controls merged with Tyco International, creating a global leader in Buildings and Energy Storage solutions through the combination of JCI’s HVAC and Building Controls business and Tyco’s Fire, Security, and Safety Products and Services. The combined entity will also retail JCI’s highly profitable automotive battery business, while spinning to shareholders its automotive seating and interiors business (to be named Adient) on October 31.
The Gabelli Value 25 Fund third quarter 2016 commentary.
