The dust has not settled yet from Johnson Controls' blockbuster acquisition of York International on Aug. 24. Days after the surprise announcement, most insiders from both parties opted not to formally comment on the $3.2 billion transaction, which caught many off guard.
"You could say we were surprised," said one York International-Unitary Products Group (UPG) official, who asked not to be identified. "However, the general mood is that this will be an excellent fit. Johnson Controls is a very strong company and York will give them an air conditioning division, which they've never had. Change, as you know, is inevitable, and as company sales go, this should be good for all parties concerned."