Johnson Controls Looking to Divest Scott Safety

Reuters is reporting that Johnson Controls International plc is looking to divest Scott Safety, its safety gear unit, in a deal that could be worth as much as $2 billion.  Scott Safety manufactures respiratory and safety equipment for firefighters, industrial workers, law enforcement and the military.  A sale of the non-core asset would shore up the company's balance sheet following its merger with Tyco International plc last year.  Centerview Partners is handling the auction and sources say that advanced discussions are underway with potential acquirers including Honeywell International and 3M.  A deal could be announced later this month.