UPDATE: Pentair, Tyco's Flow Control Business in $10Bln All-Stock Merger; Both Up, Both Off Yr Highs Hit Earlier

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Shares of Pentair ( PNR ) are now up 15% at around $46.30 having earlier touched a 52-week high $48.77 after the company agreed to merge with Tyco's ( TYC ) Flow Control business in a tax-free, all-stock merger.

The transaction values Tyco Flow at approximately $4.9 billion, including

assumed net debt and minority interest. Upon completion of the transaction,

which has been unanimously approved by the boards of both companies, Tyco

shareholders will own approximately 52.5% of the combined company and Pentair

shareholders will own approximately 47.5%.

Shares of Tyco are up 4% at around $55.80, having hit a year high $56.19.



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This article appears in: Investing , Commodities

Referenced Stocks: PNR , TYC

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