UPDATED 17:34 PM EST, December 11, 2012
The bid submitted by Wanxiang America last week was more than double the initial $125 million offer for the company's automotive battery unit made by Milwaukee-based auto-parts marker Johnson Controls Inc.
A123's defense-related business assets would be sold separately for $2.25 million to Navitas Systems, of Woodridge, Illinois.
If approved by the court, Wanxiang's purchase would still require approval by the Committee for Foreign Investment in the United States. The federal interagency committee reviews sales of U.S. companies to foreign owners.
