Tyco International 06


Tyco International 06 :

(4) 1990s: Its final issue was published in April - May 2006. In 1996, Tyco was added to the Standard & Poor's S&P 500 Composite Index, which consists of the 500 publicly traded companies in the United States with the largest market capitalization. In July 1997, Tyco merged by reverse takeover with smaller publicly traded security services company named ADT Limited, controlled by Lord Ashcroft. Upon consummation of the merger, Tyco International Ltd. of Massachusetts became a wholly owned subsidiary of ADT Limited, and simultaneously ADT changed its name to Tyco International Ltd. , retaining the former Tyco stock symbol, TYC. The merger moved Tyco's incorporation to Bermuda, where it was headquartered in the colonial capital of Hamilton. A new subsidiary named ADT Security Services was also formed out of the merger. In 1999 Tyco acquired two S&P 500 companies in a US$3 billion buyout; the electronics connector manufacturer AMP Inc. and a global leader in materials science, Raychem Corp. In 2000, Tyco closed the year spinning off a deep-sea fiber-optic cable-laying division it had purchased from AT&T as Tyco Submarine Systems in a much anticipated initial public offering

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