Johnson Controls 'in merger talks' with Tyco International
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New York
JOHNSON Controls Inc is discussing a merger with Tyco International plc that would combine the companies' building-control businesses, said people familiar with the matter.
Johnson Controls is continuing with its plan to spin off its automotive-seating operations, said the people, who asked not to be identified. Terms weren't immediately available. Discussions were first reported on Sunday by the Wall Street Journal, which said a deal may be announced as soon as Monday and valued at as much as US$20 billion.
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