International. Shareholders of Johnson Controls (NYSE: JCI) have voted in favor to approve the previously announced merger with Tyco (NYSE: TYC).
In a final count of the voting results, 97 percent of the votes cast at a special meeting voted in favor of the transaction, representing more than 81 percent of all Johnson Controls shareholders as of the date of registration. The final results will be filed on a Form 8-K with the Securities and Exchange Commission.
Tyco shareholders have also approved the transaction.
The merger will create a global industry leader in a unique position in the buildings and energy markets with $30 billion in annual revenue, bringing together two core businesses with best-in-class product, technology and services to deliver greater value to customers, shareholders and employees.
"I am pleased that our shareholders have voted in favor of this far-reaching strategic combination, which will unite two world-class companies with complementary capabilities," said Alex Molinaroli, president and CEO of Johnson Controls. "I am very excited and enthusiastic as we create the global leader in buildings and energy systems with a strong leadership team and dedicated employees around the world who are willing to deliver on the promise of smart cities and communities."
The merger with Tyco is expected to be completed on September 2, 2016.
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