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US: Johnson Controls to proceed with Tyco $14 billion merger

By  |  April 21, 2016

Johnson Controls Inc. said it would proceed with its planned $14 billion merger with Tyco International PLC despite tougher rules on inversion deals, and the company raised guidance for its current fiscal year.

Johnson also said adjusted per-share earnings, which exclude certain one-time items, and revenue for the latest quarter beat expectations. The company projected adjusted per-share earnings for the current quarter that topped Wall Street estimates.

The planned combination of Johnson Controls and Tyco will create a new giant provider of commercial-building systems and reflects a growing push by some executives and shareholders toward companies that are bigger but more focused. Both Tyco and Johnson Controls in recent years have made moves to unstitch businesses that had grown sprawling and unwieldy from previous acquisitions.

Full Content: The Wall Street Journal

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