Tyco and Pentair Announce Merger of Flow Control Business

Tyco International Ltd. announced a definitive merger agreement where its Flow Control subsidiary will merge with Pentair, Inc. in a Reverse Morris Trust transaction. Following a spin-off of Flow Control to Tyco shareholders, Pentair will become a wholly-owned subsidiary of Flow Control, with Pentair shareholders receiving Flow Control shares.

“On March 28, 2012, Tyco International Ltd. (“Tyco”) announced that it had entered into (i) a Merger Agreement (the “Merger Agreement”), dated as of March 27, 2012, with Tyco Flow Control International Ltd. (“Flow Control”), a direct wholly-owned subsidiary of Tyco, Panthro Acquisition Co. (“AcquisitionCo”), a newly formed direct wholly-owned subsidiary of Flow Control, Panthro Merger Sub, Inc. (“Merger Sub”), a newly formed direct wholly-owned subsidiary of AcquisitionCo, and Pentair, Inc. (“Pentair”)”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.