Tyco Files Preliminary Proxy in Connection with Proposed Separation into Three Independent Companies
Wednesday, May 9, 2012
Tyco International Ltd. has filed preliminary proxy
materials with the SEC seeking approval by
the company's shareholders for its previously announced plan to separate into
three independent companies.
Under the plan announced on Sept. 19, 2011, Tyco will spin
off its North American residential and small business security company and its
flow control business by means of tax-free stock dividends to Tyco
shareholders. In addition, as announced on March 28, 2012, Tyco will combine
its flow control business with Pentair, Inc. in a tax-free all-stock merger
that will occur immediately following the dividend distribution of the flow
control business. More...