Johnson Controls, Tyco Agree to Merge Companies

 Johnson Controls, Tyco Agree to Merge Companies

Johnson Controls (NYSE: JCI) and Tyco (NYSE: TYC) entered into a definitive merger agreement in which the companies will combine.
Johnson Controls shareholders will own 56 percent of the equity in the combined company and receive aggregate cash consideration of approximately $3.9 billion. Tyco shareholders will own approximately 44 percent of the combined company. Both companies’ agreed to the terms.
The companies will be combined under Tyco International plc and be renamed Johnson Controls plc. The headquarters will be located in Cork, Ireland, where Tyco International is based, and the primary North America headquarters will be in Milwaukee, where Johnson Controls is based. The shares will be listed on the New York Stock Exchange under the “JCI” ticker.

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