Tyco buys AMP for $11.3 billion

January 01 1999

The industrial conglomerate Tyco has announced that it is to acquire AMP in an all-stock deal. The offer has rescued the Harrisburg, Pennsylvania-based electrical equipment manufacturer from the hostile takeover attempt by AlliedSignal announced in the summer. Tyco’s offer tops AlliedSignal’s cash bid by $1.6 billion.

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News analysis IFLR Magazine January 1999