Tyco International to Divest Remaining Stake in Atkore for $250M

Tyco International Ltd. entered into a non-binding Letter of Intent with Atkore International Group Inc. for Atkore to redeem Tyco's remaining common equity stake for $250 million in cash, plus a potential contingent amount. The transaction is expected to close in Tyco's third fiscal quarter, subject to definitive agreements and other conditions.

“On March 6, 2014, affiliates of Tyco International Ltd. (the “Company”) and Atkore International Group Inc. (“Atkore”) entered into a non-binding Letter of Intent (the “LOI”) pursuant to which Atkore has proposed to redeem all of the Company’s remaining common equity stake in Atkore for an aggregate cash purchase price of $250,000,000, plus an additional contingent amount if certain transactions involving Atkore occur prior to December 31, 2014.”

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