Tyco International said it will merge its flow control business with Pentair Inc to create a global filtration products major with $7.7 billion in annual revenue.The all-stock deal values Tyco's flow business at $4.9 billion, including debt and $94 million minority interest.On completion of the deal, expected in September, Tyco shareholders will own about 52.5 percent of the combined company while Pentair will hold about 47.5 percent.The deal, structured as a Reverse Morris Trust transaction to save on tax, is expected to add 40 cents a share to Pentair's 2013 earnings.
Pentair, Inc. (Pentair) is a focused diversified industrial manufacturing company. Shares of PNR remained unchanged at $40.26. In the past year, the shares have traded as low as $29.73 and as high as $42.43. On average, 506342 shares of PNR exchange hands on a given day and today's volume is recorded at 500.
Source
