Tag Archives: Tyco

Chemours Stock In Downward Spiral, Former Parent DuPont Appoints Spinoff Veteran Breen Permanent CEO

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Despite what appeared to be reasonable improvement in the first quarter since its spinoff from DuPont(DD), The Chemours Company(CC) stock has continued its downward spiral. The company which began when-issued trading at $21 in late June, closed at $6.43 yesterday. As we have discussed previously, the company is burdened with $4 billion in debt, plus unknowable environmental liability.… Read More »

Merger Mondays Claim Another Spinoff In Covidien

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Merger Mondays are back. The latest mega deal announced is Medtronic’s (MDT) ~$42.9b takeover of device maker Covidien (COV). The deal price represents a ~30% premium and includes $35.19 of cash and 0.956 Medtronic shares. While Medtronic’s management is out touting the numerous cost savings and synergies gained through the deal, the main motivation behind the deal appears to… Read More »

Covidien Board Approves Mallinckrodt Spin For June 28

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Last Friday, Covidien (COV) announced that its Board Of Directors had given final approval for its long-planned spinoff of Mallinckrodt. Shareholders of record of Covidien as of June 19 will receive one share of Mallinckrodt (MNK) on June 28 for every eight shares of Covidien that they own. The company expects that both Covidien and Mallinckrodt will begin… Read More »

Fitch Assigns ‘BBB+’ Credit Rating With Stable Outlook To Recent Tyco Spin, ADT

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ADT(ADT) is home, even when you’re not, and Fitch thinks they’re reasonably likely to pay back any money you might lend them.  The home security giant, which was spun off from Tyco(TYC) on September 28, has strong free cash flow and market share and is easily able to service its significant debt. Said Fitch: ADT’s ratings and Outlook… Read More »

Tyco Ready To Split

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Well, it’s official now as Tyco’s (TYC) shareholders approved the latest dismemberment of the former conglomerate earlier this week. I’m still waiting for a shareholder surprise veto to take place…now that would be something. Anyways…continuing its long history of spins, Tyco will distribute its North American ADT business and its flow control business on September 28th to shareholders… Read More »

Like Father Like Son? Covidien Pursues Spinoff Of Its Own

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Tyco (TYC), a champion spinner with a set of twins of its own in the pipeline, is about to become a grandfather. Covidien (COV), a 2007 spinoff from Tyco, recently announced plansto spin off its pharmaceuticals business into a standalone company. Five is truly a wonderful age to become a parent. Many had predicted some type of transaction… Read More »

Tyco Does It Again

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In stark contrast to the American people’s  growing heft, American conglomerates appear to be on a steady diet, often slimming down via spinoffs. Break up expert and Swiss-conglomerate Tyco International (TYC) is the latest fad follower as the company announced plans to split itself into three separate companies. The new businesses will be: ADT North America (residential security):… Read More »

Tyco(TYC) Announces Intent to Spinoff Electronic And Metal Products

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Tyco(TYC) announced today that it intends to spin off its Electronic & Metal Products division.  The former conglomerate intends to file more information with the SEC over the next few months, and to complete the transaction in the first half of 2011. The business to be spun off “designs, manufactures and sells galvanized steel tubes and pipes, electrical… Read More »