Tyco International has agreed to combine its flow control business with Pentair, which specializes in water technologies, in a $10 billion all-stock merger.
The announcement comes six months after Tyco decided to break itself into three publicly-traded companies, partially to make the independent units more attractive for future acquisition (NYLJ, Sept. 22, 2011). The break-up of the three divisions, including Tyco Flow as well as home security and commercial security and fire units, is expected to be completed by the end of September.
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