Tyco Plans Separation into Three Independent Companies

Tyco International Ltd. is planning to separate into three independent, publicly traded companies. This corporate restructuring involves the separation of Covidien and Tyco Electronics from Tyco, with each entity obtaining its own financing facilities.

“In connection with Tyco’s planned separation into three independent, publicly traded companies, TIGSA, Tyco and certain of their subsidiaries that are issuers of its corporate debt will commence tender offers to purchase for cash substantially all of their outstanding public debt and all of TIGSA’s outstanding Euro and Pound Sterling denominated debt”

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