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.
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