8-KOther Events

Johnson Controls International plc 8-K Report (May 24, 2001)

Filed May 24, 2001For Securities:JCI

Summary

This Johnson Controls International plc (JCI) 8-K filing from May 24, 2001, primarily serves to disclose information related to the ongoing acquisition of The CIT Group, Inc. (CIT) by Tyco International Ltd. (Tyco). The key event is the approval of the merger agreement by CIT stockholders on May 23, 2001. The filing includes unaudited financial statements for CIT as of March 31, 2001, and for the three months then ended, along with pro forma combined financial information for Tyco and CIT. Investors should note that Johnson Controls International plc is providing this information as a related event disclosure, not as a direct participant in the Tyco-CIT transaction. The acquisition is expected to close by June 1, 2001, following regulatory approvals, and Tyco intends to account for it as a purchase.

Key Highlights

  • 1CIT stockholders approved the merger agreement with Tyco International Ltd. on May 23, 2001.
  • 2The acquisition of CIT by Tyco is expected to close by June 1, 2001, pending regulatory approvals.
  • 3The filing includes unaudited condensed consolidated financial statements for The CIT Group, Inc. as of March 31, 2001, and for the three months ended March 31, 2001 and 2000.
  • 4Pro forma combined condensed financial information for Tyco and CIT is also provided for key periods.
  • 5Tyco International Ltd. intends to account for the acquisition of CIT as a purchase.
  • 6This filing is a disclosure of an event of interest to investors, with Johnson Controls International plc not being a direct party to the Tyco-CIT merger.

Frequently Asked Questions

The main purpose of this 8-K filing by Johnson Controls International plc is to disclose information related to the merger between Tyco International Ltd. and The CIT Group, Inc., specifically the approval of the merger agreement by CIT stockholders. Johnson Controls is not a direct party to this transaction.

The merger between Tyco International Ltd. and The CIT Group, Inc. is expected to close by June 1, 2001, subject to the receipt of all necessary regulatory approvals.

The filing includes unaudited condensed consolidated financial statements for The CIT Group, Inc. and its subsidiaries as of March 31, 2001, and December 31, 2000, along with comparative data for the three-month periods ended March 31, 2001, and 2000. Pro forma combined financial information for Tyco and CIT is also provided.

Tyco International Ltd. intends to account for the acquisition of The CIT Group, Inc. as a purchase.