Delphi, Continental Said to Bid for Johnson Controls Unit

Delphi Automotive Plc and Continental AG both bid for Johnson Controls Inc.’s automotive electronics unit, which may fetch about $1.2 billion, said people familiar with the matter.

Johnson Controls received first-round bids this month and is now setting up meetings between management and suitors such as Delphi and Continental, said one of the people, who asked not to be named because the process is private. Johnson Controls said March 6 that JPMorgan Chase & Co. had been hired to explore a possible sale of the division.