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


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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: PNR , TYC

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