Tyco and Johnson Controls Announce Merger
01.25.16
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The Firm is representing Tyco International plc (NYSE: TYC) in connection with its announced merger with Johnson Controls, Inc. (NYSE: JCI). Under the terms of the merger agreement, Johnson Controls shareholders will own approximately 56% of the equity of the combined company and in addition receive aggregate cash consideration of approximately $3.9 billion. Current Tyco shareholders will own approximately 44% of the equity of the combined company. The completion of the transaction, which is expected by the end of fiscal year 2016, is subject to customary closing conditions, including regulatory approvals and approval by both Johnson Controls and Tyco shareholders.
The Simpson Thacher team includes Alan Klein, Elizabeth Cooper, Daniel Layfield, Andrew Edelen and Chance Goldberg (M&A); Greg Grogan, Jennifer Pepin and Caitlin Lucey (Executive Compensation and Employee Benefits); Andrew Purcell (Tax); Ellen Frye, John Goheen and Andrew Hasty (Antitrust); Adeeb Fadil and Louise Kruger (Environmental); and Lori Lesser and Genevieve Dorment (IP).