Johnson Controls Reportedly In Talks To Buy EnerSys

(RTTNews) - Auto parts supplier Johnson Controls Inc. (JCI) is in talks to buy battery maker EnerSys (ENS), the Wall Street Journal reported citing people familiar with the matter.

The report said that the talks are at an early stage. Terms being discussed couldn't be learned, but with a market value of about $2.7 billion Tuesday, a sale of EnerSys could value the company at well over $3 billion given a typical takeover premium. As with all such situations, the talks could fall apart before a deal is reached.

ENS closed Tuesday trading at $63.86, up $4.98 or 8.46%.