Tyco International Ltd. (TYC) filed a Form 8K - Other Events -
with the U.S Securities and Exchange Commission on March 10,
2014.
On March 6, 2014, affiliates of Tyco International Ltd. (the
"Company") and Atkore International Group Inc. ("Atkore") entered
into a non-binding Letter of Intent (the "LOI") pursuant to which
Atkore has proposed to redeem all of the Company's remaining common
equity stake in Atkore for an aggregate cash purchase price of
$250,000,000, plus an additional contingent amount if certain
transactions involving Atkore occur prior to December 31, 2014.
Completion of the redemption is subject to a number of conditions,
including (i) the execution and delivery of a redemption agreement
reflecting the definitive terms and conditions upon which the
redemption would occur, (ii) completion of the refinancing of
Atkore's indebtedness, (iii) the solvency of Atkore and its
subsidiaries immediately following the completion of the redemption
and (iv) the termination of certain affiliate agreements between
Atkore and affiliates of the Company, including an indemnity
agreement, consulting agreement and stockholders agreement. Closing
of the redemption is expected to occur in the Company's third
fiscal quarter.
The above information includes "forward-looking statements"
regarding the Company's intent to divest its remaining stake in
Atkore. There can be no assurance that the Company and Atkore will
enter into a definitive redemption agreement or, if the parties do
enter into such an agreement, that the terms and conditions will be
on terms favorable to the Company or as provided in the LOI.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344414000029/a8-katkore.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344414000029/0000833444-14-000029-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
Access Investor Kit for Tyco International Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=A591&isin=CH0100383485
Subscribe to WSJ: http://online.wsj.com?mod=djnwires