Johnson Controls and Tyco International Announce Merger

Johnson Controls, Inc. and Tyco International plc entered into a definitive merger agreement on January 24, 2016. Under the terms, a Tyco subsidiary will merge into Johnson Controls, with Johnson Controls surviving as a wholly-owned subsidiary of Tyco, which will then be renamed Johnson Controls plc. The deal includes a mix of cash and stock consideration for Johnson Controls shareholders.

“On January 24, 2016, Tyco International plc, an Irish public limited company (“Tyco”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Johnson Controls, Inc., a Wisconsin corporation (“JCI”), and certain other parties named therein, including Jagara Merger Sub LLC, a Wisconsin limited liability company and indirect wholly owned subsidiary of Tyco (“Merger Sub”). Pursuant to the Merger Agreement and subject to the terms and conditions set forth therein, Merger Sub will merge with and into JCI (the “Merger”), with JCI surviving the Merger as an indirect wholly owned subsidiary of Tyco.”

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