$TYC (Tyco International plc)

$TYC {{ '2016-08-18T10:49:16+0000' | timeago}} • Announcement

$TYC said it will continue to provide its fire, security and life safety products in South Africa, after sale of security business is completed. The transaction is expected to close in late 1Q17. Deutsche Bank is acting as exclusive financial adviser and Simpson Thacher & Bartlett and Bowman Gilfillan are acting as legal advisors to $TYC.

$TYC {{ '2016-08-18T11:57:47+0000' | timeago}} • Announcement

Shareholders of $TYC and $JCI approved the proposed merger of the companies. $JCI will become a part of $TYC, which will then change its name to Johnson Controls. As pert of the deal, the corporate headquarters of the new company will be based in Ireland to save about $150MM in taxes. The merger is expected to be completed on Sept. 2.

$TYC {{ '2016-08-18T10:49:16+0000' | timeago}} • Announcement

$TYC said it will continue to provide its fire, security and life safety products in South Africa, after sale of security business is completed. The transaction is expected to close in late 1Q17. Deutsche Bank is acting as exclusive financial adviser and Simpson Thacher & Bartlett and Bowman Gilfillan are acting as legal advisors to $TYC.

$TYC {{ '2016-08-18T10:47:11+0000' | timeago}} • Announcement

$TYC said it agreed to sell its security business in South Africa, which operates locally under the ADT brand, to Fidelity Security Group for about $140MM. The financial impact of this planned sale was previously disclosed as part of $TYC's 3Q earnings report on July 29, 2016.

$TYC {{ '2016-08-17T22:42:23+0000' | timeago}} • Announcement

$TYC said that its shareholders approved all matters related to the proposed merger with $JCI at an extraordinary general meeting of shareholders in Dublin, and Johnson Controls shareholders also voted to approve the merger at a special general meeting in Dallas. The merger is expected to be completed on Friday, Sept. 2, 2016.

$TYC {{ '2016-07-29T17:21:43+0000' | timeago}} • Webcast

In 3Q16, revenue in $TYC's North America Integrated Solutions & Services segment was $1Bil, up 3% from 3Q15. In Rest of World Integrated Solutions & Services, revenue of $794MM decreased 6% YoverY, including a 6% unfavorable impact from FX. In Global Products, revenue of $651MM declined 4% from last year.

$TYC {{ '2016-07-29T17:12:00+0000' | timeago}} • Webcast

In 3Q16, in the US market, $TYC saw stable growth in non-residential construction verticals YoverY. $TYC saw solid install order activity with growth in commercial, government and institutional verticals. Activity in Western Canada remains soft due to high hazard heavy industrial end markets. Europe saw organic growth in the low single digit range.

$TYC {{ '2016-07-29T16:59:59+0000' | timeago}} • Webcast

Fire protection services provider $TYC said 3Q16 organic revenue growth of 1.5% was more than offset by a 3% headwind from changes in foreign currency. A 3% gain from acquisitions was fully offset by a 3% negative impact related to divestitures. Segment operating margin contracted 30BP YoverY including 20BP of purchase accounting headwind.

$TYC {{ '2016-07-29T11:37:29+0000' | timeago}} • Announcement

During 3Q16, $TYC recorded a loss of $59MM as a result of the anticipated sale of a business in the Rest of World Integrated Solutions & Services segment that generates approx. $160MM in annual revenue. Restructuring and repositioning charges were $15MM before the reversal of $2MM of prior-period charges treated as special items for the quarter.

$TYC {{ '2016-07-29T11:34:26+0000' | timeago}} • Announcement

$TYC will be able to close the $JCI merger a month ahead of its schedule and hit the ground running. As a result of the integration planning work, the company is confident that it will be able to realize $1Bil of savings related to previously announced merger synergies and productivity initiatives, said CEO George Oliver.

$TYC {{ '2016-07-29T11:28:53+0000' | timeago}} • Announcement

Security systems company $TYC posted higher earnings in 3Q16 due to higher income from continuing operations. Net income was $239MM or $0.56 per diluted share vs. $156MM or $0.37 per diluted share in 3Q15. Revenue fell 2% to $2.45Bil vs. 3Q15, hurt by lower revenues in Rest of World Integrated Solutions & Services and Global Products segments.

$JCI {{ '2016-07-21T15:57:55+0000' | timeago}} • Webcast

$JCI said it is doubling its AGM expansion in North America by 2020 and aims to increase capacity up to 11MM units. The company is reiterating on the commitment of $1Bil of run rate savings from the combination of the ongoing productivity improvements at $TYC and $JCI along with synergy cost reductions $JCI expects to achieve.

$TYC {{ '2016-07-21T15:36:11+0000' | timeago}} • Announcement

$TYC said it expects to close its merger with $JCI on Sept. 2, 2016. The company said its BoD has declared an accelerated dividend of $0.23 per ordinary share, payable on Aug. 26, to shareholders of record on Aug. 5. The accelerated dividend is in addition to regular 3Q dividend scheduled to be paid on Aug. 17 to shareholders of record on July 22.

$JCI {{ '2016-07-21T10:11:21+0000' | timeago}} • Announcement

Automotive batteries producer $JCI said its BoD has approved a quarterly dividend of $0.29 per share. In connection with the pending $TYC merger, this dividend will be accelerated and payable on Aug. 19, 2016 to shareholders of record on Aug. 5, 2016.

$JCI {{ '2016-07-07T15:00:44+0000' | timeago}} • Announcement

$JCI said it filed a registration statement on Form S-4 with the SEC in connection with the proposed merger with $TYC, effective July 6, 2016. The registration statement includes a joint proxy statement of both companies' allowing the transaction to proceed to shareholder votes on Aug. 17, 2016.

$TYC {{ '2016-06-08T20:41:58+0000' | timeago}} • Announcement

Fire protection and security company $TYC said its BoD declared a quarterly dividend of $0.205 per share for 4Q16. The dividend is payable on Aug. 17, 2016, to shareholders of record on July 22, 2016.

$JCI {{ '2016-05-27T14:23:19+0000' | timeago}} • Announcement

$JCI said following the close of its planned merger with $TYC, which is expected on or around Oct. 1, 2016, its Chairman and CEO Alex Molinaroli will be appointed to the same role for the combined company. Tyco CEO George Oliver will serve as President and COO, and will become a director on the new company's board.

$TYC {{ '2016-05-17T11:11:46+0000' | timeago}} • SEC

$TYC incurred costs of $26MM for 2Q16 related to its proposed merger with $JCI, mainly related to financing, advisory, and professional fees. Company currently expects that, upon the effective time of the merger, transaction-related costs incurred will be about $105MM.

$TYC {{ '2016-05-17T11:07:41+0000' | timeago}} • SEC

During 2Q16, $TYC completed the sale of its Australian fire protection business, included in ROW Integrated Solutions & Services segment. Company recorded a pretax loss of $75MM related to this sale for 1H16. Company also completed the sale of 2 businesses within the Global Products and the ROW Integrated Solutions & Services segments.

$TYC {{ '2016-05-17T11:07:05+0000' | timeago}} • SEC

In 2Q16, $TYC's NA Integrated Solutions & Services segment net revenue rose 0.3% versus 2Q15. ROW Integrated Solutions & Services net revenue fell 9.3% and Global Products net revenue fell 3.6%, both segments unfavorably impacted by changes in foreign currency exchange rates.

$TYC {{ '2016-05-17T11:03:33+0000' | timeago}} • SEC

Security systems company $TYC's 2Q16 net revenue fell 4.1% versus 2Q15, hurt by unfavorable impact due to changes in foreign currency exchange rates and divestitures. On an organic basis, net revenue fell 1% YoverY, mainly due to declines in the Global Products segment.

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