Summary
This 8-K filing from Johnson Controls International plc (JCI) on March 28, 2001, is informational rather than directly transactional for JCI. It reports on a significant event involving another company, Tyco International Ltd. (Tyco), and The CIT Group, Inc. (CIT). Specifically, JCI is disclosing that Tyco announced its intention to acquire CIT through a merger, to be accounted for as a purchase. JCI is providing this information as an exhibit, including unaudited pro forma combined condensed financial information for Tyco and CIT.
Key Highlights
- 1Johnson Controls International plc (JCI) is filing this 8-K report on March 28, 2001.
- 2The report concerns the acquisition of The CIT Group, Inc. (CIT) by Tyco International Ltd. (Tyco).
- 3Tyco announced an Agreement and Plan of Merger dated March 12, 2001, to acquire CIT.
- 4The acquisition will be accounted for by Tyco as a purchase.
- 5The filing includes unaudited pro forma combined condensed financial information for Tyco and CIT.
- 6This information covers periods ending December 31, 2000, and September 30, 2000.
Frequently Asked Questions
No, this filing indicates that Tyco International Ltd. (Tyco) is acquiring The CIT Group (CIT), not Johnson Controls.
JCI is filing this report to provide information, specifically as an exhibit, related to the Tyco-CIT merger. The exact reason for JCI's involvement in providing this information is not detailed in the filing, but it often occurs when a company is providing context or financial data related to significant industry events that might be of interest to its stakeholders.
The filing includes unaudited pro forma combined condensed financial information for Tyco and CIT. This financial data pertains to the quarter ended December 31, 2000, and the year ended September 30, 2000, as well as figures as of December 31, 2000.
Tyco intends to account for the acquisition of CIT as a purchase.