Tyco International (TYC) Holders Approve Proposals, Board Approves Additional $1B Buyback

Tyco International Ltd. (NYSE: TYC) today announced that its shareholders approved each proposal presented at the special general meeting of shareholders held on September 9, 2014. As a result, the company expects to complete the merger between Tyco International Ltd. and its wholly owned subsidiary, Tyco International plc, in November 2014. The merger will result in each shareholder of Tyco International Ltd. receiving one share of Tyco International plc, a company incorporated under the laws of Ireland, for each share of Tyco International Ltd. held immediately prior to the merger.

In addition, Tyco's Board of Directors approved an additional $1 billion authorization for share repurchases, as the current authorized program is expected to be completed in the first fiscal quarter of 2015.

The Board of Directors also declared a quarterly dividend of $0.18 per share, payable on November 13, 2014, to shareholders of record at the close of trading on the New York Stock Exchange on October 24, 2014.

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