SCHAFFHAUSEN, Switzerland,
May 14 /PRNewswire-FirstCall/ -- Tyco
International Ltd. (NYSE: TYC) announced today that it has
completed the acquisition of Brink's Home Security Holdings, Inc.
("Brink's Home Security") (NYSE: CFL) following approval of the
transaction by Brink's Home Security shareholders on May 12, 2010. Brink's Home Security, which
operates as Broadview Security, will now be combined with Tyco's
ADT security business, the world's largest electronic security
provider.
"We are excited to complete this transaction to bring together
two of the premier companies in the North American residential and
commercial security industry," said Tyco Chairman and Chief
Executive Officer Ed Breen. "This
creates an opportunity for ADT to strengthen its leadership
position in the security industry, while enhancing Tyco's strategic
focus on its core security, fire and flow control platforms."
With the completion of the acquisition and the addition of
Broadview's 1.3 million customers, ADT's North American residential
and small business operation will serve more than six million
customers under the ADT brand name.
Shares of Brink's Home Security ceased trading as of the close
of trading on May 13, 2010.
TERMS OF THE TRANSACTION
Under the terms of the transaction, each outstanding share of
Brink's Home Security common stock will be converted into the right
to receive: (1) $13.15 in cash and
0.7562 Tyco shares, for those shareholders who made an all-cash
election, (2) 1.0951 Tyco shares, for those shareholders who made
an all stock election and (3) $12.75
in cash and 0.7666 Tyco shares, for those shareholders who made a
mixed cash/stock election or who failed to make an election by the
election deadline.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE: TYC) is a diversified, global
company that provides vital products and services to customers
around the world. Tyco is a leading provider of security products
and services, fire protection and detection products and services,
valves and controls, and other industrial products. Tyco had
2009 revenue of more than $17 billion
and has more than 100,000 employees worldwide. More information on
Tyco can be found at www.tyco.com.
ABOUT ADT WORLDWIDE
ADT Worldwide designs, sells, installs, services and monitors
electronic security systems for residential, commercial, education,
governmental and industrial customers around the world. ADT has a
significant presence in North and South
America, Europe and the
Asia-Pacific region. ADT has
60,000 employees globally and recorded revenue of $7.0 billion in 2009. More ADT information is at
www.adt.com.
American Stock Transfer & Trust Company LLC is the exchange
agent in connection with the merger. Those registered holders
of Brink's Home Security common stock with questions regarding the
payment for Brink's Home Security common stock should contact
American Stock Transfer & Trust Company LLC at 1 (877)
248-6417. Those Brink's Home Security registered shareholders
who failed to make a valid election by the election deadline on
May 7, 2010 will be mailed additional
information and materials regarding surrender of their shares for
the mixed merger consideration. Brink's Home Security
shareholders who hold stock through a broker or bank should receive
information regarding the conversion of their shares from the party
holding their shares.
SOURCE Tyco International Ltd.