Tag: Pentair Ltd.
ADT set to 'go it alone'
September 18, 2012Tess Nacelewicz
BOCA RATON, Fla.—Tyco International shareholders voted Monday to approve splitting Tyco into three separate companies—one of them ADT, another a commercial fire and security business, and the third a flow control unit. ADT officials say they're eager to see ADT become a stand-alone company, providing security and interactive services to residences and small businesses and focused on innovation and growth.“It's a very exciting time for us,” Naren Gursahaney, CEO of The ADT...
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Tyco sets stock distribution date for ADT split
September 7, 2012Tess Nacelewicz
The big development we're all awaiting in the industry is ADT parent company Tyco International's split into three independently traded companies as of Oct. 1: The ADT Corp., Tyco Fire and Security and Tyco Flow Control International, which will be renamed Pentair Ltd.
In advance of the split, Tyco put out a news release this week announcing that Sept. 28 will be the date that distributions of equity interests in The ADT Corp. and Flow Control will be made to shareholders. Those two companies “are...