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US/Ireland: Johnson Controls and Tyco announce $3.9 billion merger

By  |  January 25, 2016

Johnson Controls, a U.S. maker of car batteries and heating and ventilation equipment, said it would merge with Ireland-based fire protection and security systems maker Tyco International.

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    Johnson Controls’ shares were up 5.3 percent at $37.40 in premarket trading on Monday. Tyco’s shares were up 10 percent at $33.65.

    The businesses of Johnson Controls and Tyco will be combined under Tyco International Plc, which will be renamed Johnson Controls Plc, after the deal closes.

    The combined company would be domiciled in low-tax Ireland.

    The deal will result in at least $500 million in savings in the first three years, and create at least $150 million in annual tax savings, the companies said.

    Full content: 12 News

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