Tyco International Ltd shareholders have approved a breakup of the industrial conglomerate into three pieces, the company said on Monday.Tyco has said the tax-free split, the second time since 2007 that it has slimmed down, would bring more options for growth to the businesses -- ADT North American residential security, flow-control products and services, and fire and security.The flow-control business, which sells valves and controls for the energy market, will merge with Pentair Inc, which will be renamed Pentair Ltd and be majority-owned by current Tyco shareholders.Tyco will combine its commercial fire and security businesses into "New Tyco," which will include the ADT brand outside North America and trade under Tyco's symbol.
Pentair, Inc. (Pentair) is a focused diversified industrial manufacturing company. Shares of PNR remained unchanged at $42.99. In the past year, the shares have traded as low as $30.38 and as high as $48.77. On average, 899070 shares of PNR exchange hands on a given day and today's volume is recorded at 0.
Tyco International Ltd is a Switzerland-based holding company of Tyco Group. Shares of TYC remained unchanged at $55.24. In the past year, the shares have traded as low as $38.30 and as high as $58.12. On average, 2812470 shares of TYC exchange hands on a given day and today's volume is recorded at 6500.
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