NEUHAUSEN, Switzerland,
March 3, 2014 /PRNewswire/
-- Tyco (NYSE: TYC) today announced that its Board of
Directors approved an additional $1.75
billion authorization for share repurchase. This is in
addition to the remaining $250
million authorization, bringing the total share repurchase
authorization to $2 billion.
The company expects to repurchase shares from time to time based on
market conditions.
ABOUT TYCO
Tyco (NYSE: TYC) is the world's largest pure-play fire
protection and security company. Tyco provides more than three
million customers around the globe with the latest fire protection
and security products and services. A company with $10+ billion in
annual revenue, Tyco has over 65,000 employees in more than 1,000
locations across 50 countries serving various end markets,
including commercial, institutional, governmental, retail,
industrial, energy, residential and small business. For more
information, visit www.tyco.com.
FORWARD-LOOKING STATEMENTS
This press release contains a "forward-looking statement"
about share repurchases. This statement is made on the basis of
Tyco's views and assumptions at this time and the Company
undertakes no obligation to update this statement unless required
by law. This statement is not a guarantee of future
performance; and actual events or results may differ materially
from this statement. More detailed information about the
factors that could cause results to differ from this statement and
other risks to the Company are set forth in Tyco's Annual Report on
Form 10-K for the fiscal year ended Sept.
27, 2013 and in subsequent filings with the Securities and
Exchange Commission.
SOURCE Tyco