Tyco International To Split Into 3 Cos.

Law360, New York (September 19, 2011, 12:11 PM EDT) -- Tyco International Ltd. said Monday that it planned to split its security, fire-protection and flow-control businesses into three separate, publicly traded companies.

News of the breakup, Tyco's second in less than five years, drove company shares up nearly three percent in early trading Monday, as shareholders speculated that Tyco's remnants, particularly security segment ADT North America, would attract buyers.

Tyco expects to complete the split within the next 12 months, adding that the move should cost about $700 million.

"Over the last four years, we have...
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