Losers Combine: Johnson Controls and Tyco Merger Confirmed $JCI $TYC

As The Fly posted a few hours earlier, Johnson Controls and Tyco International were in talks for a merger, and now it’s been confirmed.

Johnson Controls, $JCI and Tyco International, $TYC are creating a company with a combined market cap of $36B.

Johnson Controls shareholders will own 56% of the combined company, and receive a cash consideration of about $3.9 billion. The two will be combined under Tyco, but their name will be changed to Johnson Controls PLC.

$JCI is down 2.11% premarket while $TYC was up 5%