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Investing.com --Eaton Corp.is exploring strategic options for its vehicle unit as the electrical equipment maker aims to focus on high-growth businesses under its new chief executive officer, according to Bloomberg News.
The U.S.-listed company is working with an adviser to explore a potential sale or spinoff of the unit, Bloomberg reported, citing people familiar with the matter who asked not to be identified discussing confidential information.
The vehicle unit, which manufactures products including controls and transmission systems, could be valued at up to $5 billion in a sale, according to the sources.
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