RELEASED ON 24/12/12 (DD/MM/YY)
The 11 Dec 2012 auction sale of bankrupt battery maker A123
Systems to China-based Wanxiang Group is being appealed by Johnson Controls.
A lithium-ion battery maker like A123, Johnson Controls had previously
signed a deal to buy A123's assets for $125 M. Wanxiang offered $257 M for
A123, excluding US military contracts. One of the goals of the appeal is to
influence government officials who may attempt to intercede in the sale on
reasons of national security.
SOURCE Chemical and Engineering News