Johnson Controls and Tyco to merge
Adient spin-off on track
Johnson Controls Inc (JCI) has announced a merger with Tyco International to "create a global leader uniquely positioned in buildings and energy platforms with expertise across attractive end markets". The two companies expect the transaction to be closed by the end of September 2016. JCI stockholders will have 56% ownership of the equity of the combined company and will receive aggregate cash consideration of USD3.9 billion. Current Tyco shareholders will own approximately 44% of the equity of the combined company.
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