Johnson Controls agreed to buy Hoover Universal.

Milwaukee-based Johnson is making a $490-million stock offer to acquire the Ann Arbor, Mich-based firm, the companies reported jointly. Hoover, a diversified manufacturer with many specialized products, primarily in automotive and industrial markets, has 57 plants and more than 8,000 employees in North America and abroad. Johnson Controls is a leader in automated building control and automotive battery industries.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World