This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tyco Completes Separation Process

SCHAFFHAUSEN, Switzerland, Sept. 28, 2012 /PRNewswire/ -- Today Tyco (NYSE: TYC), the world's largest dedicated fire protection and security company, completed its separation transaction.

Tyco is a $10+ billion global leader in fire protection and security solutions. Tyco designs, manufactures, installs and services fire protection and security solutions focused on finding smarter ways to save lives, improve businesses and protect where people live and work.

Tyco's broad portfolio of products and services allows the company to partner with customers to help them protect people and assets around the world. Tyco's solutions address these critical needs with leading edge innovations in fire detection and suppression, intrusion, video surveillance, access control, retail security solutions and personal protective equipment as well as monitoring, maintenance and service.

"This is an exciting day for Tyco," said George Oliver, Tyco's new chief executive officer. "As a more focused company, we are positioned to continue to invest in technology and innovation to provide industry-leading fire and security solutions."

George Oliver joined Tyco in July 2006, after serving in various senior executive positions at General Electric. Oliver succeeds Ed Breen, who was chairman and CEO of Tyco International Ltd. since July 2002. Breen will serve as the non-executive chairman of Tyco's Board of Directors.

In connection with the closing of the spin-off transactions, each Tyco shareholder will receive: (i) one share of common stock of The ADT Corporation for every two shares of Tyco common stock held at the close of business on September 17, 2012 (the record date) and (ii) 0.239943 shares of Pentair Ltd. (formerly known as Tyco Flow Control International Ltd.)  ("New Pentair") common stock for every share of Tyco common stock held at the close of business on the record date. Fractional shares of ADT and/or New Pentair will not be distributed and any Tyco shareholder who would otherwise be entitled to receive a fractional share will instead receive a cash payment. Immediately following the distributions, Pentair, Inc. ("Pentair") merged with and into a wholly-owned subsidiary of New Pentair.

The distributions have been structured to qualify as tax-free dividends to Tyco shareholders for U.S. federal income tax purposes. Cash received in lieu of fractional shares, however, will be taxable. Shareholders are urged to consult with their tax advisor as to the specific tax consequences of the distributions to them.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs