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Tyco's shareholders OK merger with Minnesota-based Pentair

Shareholders of Switzerland-based Tyco International have approved a breakup of the company. The deal will merge its flow-control unit with Minnesota-based Pentair, the Business Journal reports. The merged company will continue to be based in Golden Valley and publicly-traded under Pentair’s symbol in the U.S.
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Shareholders of Switzerland-based Tyco International have approved a breakup of the company. The deal will merge its flow-control unit with Minnesota-based Pentair, the Business Journal reports. The merged company will continue to be based in Golden Valley and publicly-traded under Pentair’s symbol in the U.S.

Reuters reports, shareholders of Pentair, maker of filters and pumps, agreed to the planned $4.6 billion merger last week.

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The Golden Valley-based company reported a 9 percent sales increase, despite alack of demand in Western Europe. Pentair is in the process of merging with Tyco International's Flow Control business.

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