Tyco Exits Remaining Stake in Atkore International

Tyco International Ltd. announced the redemption of its remaining common equity stake in Atkore International Group, Inc. for $250 million in cash, with a potential upward adjustment of $25 million contingent on a future sale, merger, or IPO of Atkore.

“On April 9, 2014, Tyco International Ltd. (the “Company”) announced that Atkore International Group, Inc. (“Atkore”) completed the redemption of all of the Company’s remaining common equity stake in Atkore for aggregate cash proceeds of $250 million. This amount may be adjusted upward by up to $25 million if, prior to December 31, 2014, there is a sale or merger of Atkore, a sale of substantially all of Atkore’s assets or an initial public offering of Atkore’s stock.”

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