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Tyco International


said Monday one of its subsidiaries has agreed to acquire

Scott Technologies


, a manufacturer of life-support and respiratory products, for about $400 million.

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According to the terms of the merger deal, Scott shareholders will get $23 worth of Tyco shares for each of their shares. The exact number of Tyco shares will be determined later. Scott shares were down 63 cents, or 2.7%, to $22.75 in


trading Monday. Tyco shares were up $1.50, or 2.5%, to $61.78 on the

New York Stock Exchange


Tyco said the deal, which is awaiting regulatory and shareholder approval, will add "significant recurring revenue" to its Tyco Fire & Security services subsidiary.