Posted on 01/27/2016 2:51:54 PM PST by Lorianne
Johnson Controls strikes $20bn Tyco acquisition
Johnson Controls has agreed to acquire Tyco International in a $20bn industrial tie-up that will allow the manufacturer to slash its tax bill by moving its corporate domicile from the US to Ireland. The transaction is structured as a reverse takeover that will see Tyco shareholders own 44 per cent of the combined group, while Johnson Controls investors will hold the remainder and receive $3.9bn in cash. It values Tyco shares at $34.88, an 11 per cent premium to its closing price at the end of last week High quality global journalism requires investment.
The new company will keep Tyco’s Irish domicile and Cork headquarters, allowing Johnson Controls to capture a lower tax rate and create “at least $150m in annual tax synergiesâ€, the companies said. Other synergies will total at least $500m over the first three years, they added.
The deal highlights the inability of the US government to stop its large corporations from fleeing the country’s tax regime and suggests that so-called “inversion†deals remain highly attractive to companies struggling to grow their top line.
(Excerpt) Read more at thechinamoneyreport.com ...
drop the damn corporate tax rate already. sheesh
When a company’s value is nothing more than the mandated surrender to a plethroa of unwarranted regulations, what can one do to secure a profit and maintain a business?
The USA.
Leading the World with the Highest Corporate Tax Rates anywhere.
Globalists rejoice.
Bernie Sanders will fix this problem! /s
High taxes here force American employers elsewhere. We wind up losing both ways. Our congress- critters must be raking in a ton of bribe $$$ to enact such destructive ( to USA ) laws ?
“Johnson Controls strikes $20bn Tyco acquisition”
Tyco? I had no idea they sold so many of those little trains.
Trump mentioned this one last evening.
The Globalists are going to accelerate this stuff as time is running out.
Watching that townhall with bernie the other night was so bizarre. He was telling them he was going to raise taxes....the crowd was so happy.
Just like hitler......crowds all clapped for him too.
Tyco is a big manufacturer of security and other electronic control devices along the line of Johnson.
I can’t imagine being a devotee of the bern. Talk about delusional.
I wasn’t being serious. I didn’t think there was a sudden renaissance in scale model trains.
With Bern and Hill promising to raise taxes and block companies from leaving there is a rush for the door. This is what happens when banana republics but in capital and currency controls.
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