Johnson Controls acquires EnergyConnect Group (Microfield Group) - MarketLine Financial Deals

Johnson Controls acquires EnergyConnect Group (Microfield Group)

Johnson Controls acquires EnergyConnect Group (Microfield Group) - MarketLine Financial Deals
Johnson Controls acquires EnergyConnect Group (Microfield Group)
Published Jul 01, 2011
4 pages — Published Jul 01, 2011
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Brief Excerpt:

...Johnson Controls, Inc., a provider of automotive interiors and batteries for automobiles and hybrid electric vehicles, has acquired all the outstanding shares of EnergyConnect Group, Inc., a provider of smart grid demand response services and technologies. Both the companies are based in the US. Announcement (March 3, 2011): Johnson Controls has signed an agreement to acquire all the outstanding shares of EnergyConnect for a total cash consideration of approximately $32.3 million. Under the terms of the definitive agreement, Johnson Controls will acquire all of EnergyConnect s outstanding shares for $0.2253 per share in cash, which represents a cash premium of approximately 73% over the previous closing share price on March 2, 2011. UBS Investment Bank is acting as financial advisor and Orrick, Herrington & Sutcliffe LLP as legal advisor to EnergyConnect. Godfrey & Kahn, S.C. is acting as Johnson Control s legal advisor. The transaction is expected to be completed by July 2011. Target EnergyConnect...

  
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Document ID
MA54652_110317
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JCI=US
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ECNG=US
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MLA:
MarketLine Financial Deals. "Johnson Controls acquires EnergyConnect Group (Microfield Group)" Jul 01, 2011. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Johnson-Controls-acquires-EnergyConnect-Group-Microfield-Group-2052-57713>
  
APA:
MarketLine Financial Deals. (2011). Johnson Controls acquires EnergyConnect Group (Microfield Group) Jul 01, 2011. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Johnson-Controls-acquires-EnergyConnect-Group-Microfield-Group-2052-57713>
  
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