Bloomberg News

China’s Wanxiang Wins Bidding for Battery Maker A123, WSJ Says

December 08, 2012

China’s Wanxiang America Co. won the bidding for A123 Systems Inc. (AONEQ:US), a maker of electric-car batteries, the Wall Street Journal reported, citing an unidentified person familiar with the matter.

Wanxiang bid between $250 million and $260 million, which surpassed an joint offer from Johnson Controls Inc. (JCI:US) and NEC Corp. (6701), the newspaper said. Germany’s Siemens AG (SIE) had also bid for A123 during the auction held by the law firm of Latham & Watkins, the WSJ said.

A spokesman for A123 declined to comment to the WSJ, while a spokeswoman for Johnson Controls wasn’t immediately reached by the newspaper.

To contact the editor responsible for this story: Dan Hart at dahart@bloomberg.net


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Companies Mentioned

  • JCI
    (Johnson Controls Inc)
    • $48.59 USD
    • -0.02
    • -0.04%
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