“Pentair Inc. (PNR) agreed to combine with the Tyco International Ltd. (TYC) division that makes valves and other flow-control instruments in a deal that values Tyco Flow at $4.53 billion as the Swiss manufacturer breaks itself up.
Tyco will spin off its flow unit to shareholders and the business will immediately merge with the operations of Minneapolis-based Pentair, the two companies said in a joint statement today. Shareholders of Schaffhausen, Switzerland-based Tyco will own 52.5 percent of the combined company, with Pentair investors owning the remainder….”
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