Eaton mulls sale or spinoff of $5B vehicle unit, Bloomberg reports

Eaton (ETN) is weighing strategic options for its vehicle unit, having tapped an adviser to explore a sale or spinoff of the business, Bloomberg’s David Carnevali reports, citing people familiar with the matter. Talks over a separation of the unit, which makes products such as controls and transmissions systems and could be worth as much as $5B in a sale, are ongoing, the author notes. Shares of Eaton are up nearly 1% in New York.