Tyco International Announces Plan to Separate Into Three Independent, Publicly Traded Companies
Monday, September 19, 2011
Tyco International Ltd. announced today that its Board of
Directors has unanimously approved a plan to separate the company into three
independent, publicly traded companies.
The company intends to accomplish the separation by issuing
tax-free stock dividends of the ADT and flow control businesses to Tyco
shareholders, after which Tyco shareholders will own 100% of the equity in each
of the three publicly traded companies. Tyco expects to complete the
transaction in approximately 12 months, subject to certain conditions including
the approval of Tyco shareholders. More...