Simpson Thacher Represents Tyco International Ltd in Announced Separation of Company
09.20.11
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The Firm is representing Tyco International Ltd (“Tyco”) in connection with the announced plan to separate the company into three independent, publicly traded companies. The three companies created through this process include: a provider of security for home and small businesses (“ADT North America”), a global manufacturer of flow control products and a commercial fire and security company. The company intends to accomplish the separation by issuing tax-free stock dividends of the ADT and flow control businesses to Tyco shareholders, after which Tyco shareholders will own 100% of the equity in each of the three publicly traded companies. Tyco expects to complete the transaction in approximately 12 months, subject to certain conditions including the approval of Tyco shareholders.
The Simpson Thacher team working on the transaction includes Alan Klein, Anthony King, Ashwin Cheriyan and Qi Yue (Corporate); Greg Grogan and Tyler Andersen (Executive Compensation and Employee Benefits); Lori Lesser (Intellectual Property); and Aimee Goldstein (Antitrust).