Tyco to Spin Off Flow Control Business

Tyco International plans to separate its flow control business into a standalone entity, Tyco Flow Control International Ltd., through a pro-rata distribution to Tyco shareholders. This spin-off is a precursor to the merger with Pentair.

“Pursuant to the Separation Agreement, and subject to the terms and conditions set forth therein, Tyco will transfer Tyco’s flow control business to Flow Control and will subsequently separate Flow Control from Tyco in a spin-off (the “Separation”).”

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