The auction of Johnson Controls International Plc‘s power solutions business has entered the final stretch, with three Canadian funds among the bidders, according to a report by Bloomberg.
Sources told Bloomberg that Brookfield Asset Management is among the investors making a final offer. Additionally, a consortium of Onex Corp and Canadian Pension Plan Investment Board is said to be weighing a bid.
Cork, Ireland-based Johnson Controls, a leading automotive battery producer, said in March it was exploring options for the business.
Bloomberg said a sale could fetch more than US$12 billion.