12:14 PM EDT, 05/03/2024 (MT Newswires) -- Johnson Controls ( JCI ) is looking to sell its ADT alarms unit as the company is divesting some non-core businesses, Reuters said Friday, citing three people familiar with the situation.

ADT, which operates in Europe and Latin America, has attracted interest from private equity funds and could fetch a valuation of less than $1 billion, the report said. Preparations for its potential sale are in the early stages, with a possible sale by year-end, the people told Reuters.

A spokesperson for Johnson Controls ( JCI ) declined Reuters' comment request, saying "we don't comment on rumor or market speculation," according to the report.

Johnson Controls ( JCI ) didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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