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SCHAUMBURG, Ill. (AP) - Cell-phone maker Motorola Corp. has hired J.P. Morgan Chase & Co. to pursue the possible sale of its 5,000-employee automotive products unit, a published report said Thursday.
The Wall Street Journal, citing unidentified sources who were familiar with the matter, said the unit is likely to generate strong interest from private-equity buyers who may pay $1 billion to $2 billion for it.
Motorola spokeswoman Jennifer Weyrauch declined comment on the report, saying the Schaumburg-based company does not respond to rumor or speculation. A spokeswoman for New York-based J.P. Morgan Chase did not immediately return a phone call seeking comment.
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