A123 Systems fka AONEQ

[Opti Mist]

I would say this dampens the prospect for a high bid.

If Wanxiang is out, then JCI's $125 million bid is the leader on the board.

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A coalition of former US military leaders and industry experts said Tuesday that it has “grave concern” about a Chinese company’s potential acquisition of Waltham battery maker A123 Systems Inc. and is asking the Obama administration to block any such deal.

A123 filed for bankruptcy in October, and the company’s assets are being pursued by the Wanxiang Group, a Chinese auto parts conglomerate.

On Tuesday, the Strategic Materials Advisory Council wrote Treasury Secretary Timothy Geithner, asking that the committee oppose Wanxiang’s bid for A123. The committee would need to approve the deal in order for it to close.

“This transaction would no doubt result in the loss of American jobs and the transfer of technologies critical to our nation’s infrastructure and military hardware to China,” the council wrote.



Pin Ni, president of Wanxiang America in Elgin, Ill., offered no comment on the group’s concerns Tuesday.