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Stock Market & Financial Investment News

News Breaks
September 28, 2012
10:04 EDTPNR, TYCPentair to increase dividend to 23c from 22c for 1Q13, 2Q13
Pentair Ltd. (PNR) announced that its sole shareholder prior to the spin-off, Tyco International (TYC), has authorized Pentair Ltd. to pay a cash dividend of 22c per share on November 9 to shareholders of record on October 26. Tyco as sole shareholder also approved raising the quarterly dividend to 23c per share per quarter effective for the first and second quarters of 2013. Pentair Ltd. intends to seek authorization from its shareholders at its 2013 annual general meeting of shareholders to extend the increased dividend or increase the dividend further for the remainder of 2013.
News For PNR;TYC From The Last 14 Days
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January 22, 2015
10:03 EDTPNR, TYCOn the Fly: Analyst Initiation Summary
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10:03 EDTPNROn the Fly: Analyst Downgrade Summary
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06:33 EDTPNRPentair downgraded to Neutral from Outperform at RW Baird
January 21, 2015
17:15 EDTTYCTyco initiated with a Sell at UBS
UBS initiated Tyco with a Sell rating and $40 price target, as the firm believes any upside in the stock is already factored into the company's guidance.
16:12 EDTPNRPentair initiated with a Neutral at UBS
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January 14, 2015
08:39 EDTTYCTyco says acquired assets of Grinnel, resolved disputes with historical insurers
Tyco said in a filing that as previously disclosed, during 4Q14, Tyco recorded a net charge of $465M related to asbestos liabilities, of which $225M related to Yarway Corporation liabilities and $240M related primarily to Grinnell. The company also disclosed that, in connection with claims primarily related to Grinnell, the company had resolved disputes with certain of its historical insurers and agreed that certain insurance proceeds would be used to establish and fund a qualified settlement fund, within the meaning of the Internal Revenue Code, which would be used for the resolution of certain of these liabilities. On January 9, 2015, the company completed a series of restructuring transactions related to the establishment and funding of a dedicated structure pursuant to which the company acquired the assets of Grinnell and transferred cash and other assets totaling approximately $278M, not including $22M received by the QSF from historic third-party insurers in settlement of coverage disputes, to the structure. As part of the restructuring, subsidiaries in the structure assumed certain liabilities related to historic Grinnell, Scott and Figgie operations, including all historical Grinnell asbestos liabilities, and such subsidiaries purchased additional insurance by, through or from a wholly-owned subsidiary in the structure in order to supplement and enhance existing insurance assets. The structure and the QSF fully fund all historic Grinnell asbestos liabilities and provide for the efficient and streamlined management of claims related thereto.

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