Johnson Controls Shareholders Approve Merger with Tyco
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Another step toward most significant transformation in company's 131 year history
MILWAUKEE, Aug. 17, 2016 - Johnson Controls (NYSE:JCI) shareholders today have voted to approve the previously announced merger with Tyco (NYSE:TYC). In a final count of the voting results, 97 percent of votes cast at a special meeting voted in favor of the transaction, representing over 81 percent of all outstanding Johnson Controls shares as of the record date. The final vote 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 industrial leader uniquely positioned in buildings and energy markets with $30 billion in annual revenue by bringing together two leading businesses with best-in-class product, technology and services to deliver greater value to customers, shareholders and employees.
"I am pleased our shareholders have voted in favor of this powerful strategic combination, which will unite two world-class companies with complementary capabilities," said Alex Molinaroli, chairman and CEO of Johnson Controls. "I am excited and enthusiastic as we create the world leader in buildings and energy systems with a strong leadership team and dedicated employees around the world ready to deliver on the promise of smarter cities and communities."
The merger with Tyco is expected to be completed on Sept. 2, 2016.
About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 150,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2016, Corporate Responsibility Magazine recognized Johnson Controls as the #17 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit www.johnsoncontrols.com.
Contact Information
Media: Fraser Engerman (414) 524-2733
Investors: Kathryn A. Campbell (414) 524-2085
SOURCE Johnson Controls
Web Site: www.johnsoncontrols.com
