Tyco International Ltd. (TYC) filed a Form 8K - Other Events -
with the U.S Securities and Exchange Commission on May 16,
2014.
Tyco International Ltd. ("Tyco" or the "Company") is filing this
Form 8-K to update financial information and certain related
disclosures in the Company's Annual Report on Form 10-K for the
year ended September 27, 2013 (the "2013 Form 10-K") to reflect the
presentation of the Company's South Korean security business as a
discontinued operation. This update is consistent with the
presentation of continuing and discontinued operations included in
the Company's Form 10-Q for the second quarter ended March 28, 2014
filed with the United States Securities and Exchange Commission
("SEC") on April 25, 2014.
As previously disclosed on March 4, 2014, Tyco Far East Holdings
Ltd., a wholly-owned subsidiary of Tyco, entered into a Stock
Purchase Agreement with an affiliate of The Carlyle Group for the
sale of Tyco Fire & Security Services Korea Co. Ltd. and its
subsidiaries that form and operate the Company's South Korean
security business. Pursuant to the Stock Purchase Agreement, Tyco
will sell 100% of the issued and outstanding capital stock of Tyco
Fire & Security Services Korea Co. Ltd. for a purchase price of
$1.93 billion, subject to customary adjustments. The Company
expects the sale to close during the third quarter of fiscal 2014.
Tyco expects to recognize a gain on sale upon closing of the
agreement.
Exhibits filed with this Form 8-K and incorporated into this
Item 8.01 by reference revise those areas contained in the 2013
Form 10-K to reflect the presentation of the historical operating
results of the South Korean security business as a discontinued
operations and supersede those portions of the 2013 Form 10-K.
Information in the 2013 Form 10-K has not been updated for other
events or developments that occurred subsequent to the filing of
the 2013 Form 10-K with the SEC. For additional information related
to developments since the filing of the 2013 Form 10-K, refer to
the Company's Form 10-Q for the period ending March 28, 2014 and
the Company's Forms 8-K filed since the filing of the 2013 Form
10-K. The information in this Form 8-K, including the exhibits,
should be read in conjunction with the 2013 Form 10-K and
subsequent SEC filings.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344414000065/a8-kcoverintrofy13.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344414000065/0000833444-14-000065-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
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