Tyco International will break itself into three publicly-traded companies in an effort to foster growth and make the independent units more attractive for future acquisition opportunities.
Tyco plans to spin off its ADT North American residential security business and its flow control division, which manufactures valves and pipelines, in a move that is expected to cost $700 million. The company’s remaining commercial security business will be combined with its fire protection segment to form the third company under the plan that still requires shareholder approval.
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