What is the main event reported in this 8-K filing?

The main event reported is the consummation of Tyco International Ltd.'s acquisition of The CIT Group, Inc. on June 1, 2001. Johnson Controls International plc is filing this report, likely due to its context within the financial markets or relationship with Tyco.

How did Tyco finance the acquisition of CIT?

Tyco financed the acquisition through a combination of issuing approximately 132.1 million of its common shares and an upfront cash payment of approximately $2.5 billion for 71 million CIT shares. The cash component was funded through Tyco's commercial paper program, partly refinanced by proceeds from a recent equity offering.

How is this acquisition being accounted for?

Tyco is accounting for this acquisition as a purchase. This means that CIT's assets and liabilities will be recorded on Tyco's balance sheet at their fair values as of the acquisition date.

Where can I find more detailed financial information about The CIT Group?

Detailed consolidated financial statements of The CIT Group and unaudited pro forma combined financial information for Tyco and CIT have been previously filed by Tyco in their Current Reports on Form 8-K dated April 3, 2001, and May 24, 2001. Investors should refer to those filings for more comprehensive financial data.

JCI 8-K SEC Disclosure — Jun 15, 2001

Summary

This 8-K filing from Johnson Controls International plc (JCI), filed on June 15, 2001, primarily details a significant acquisition activity by Tyco International Ltd. (Tyco). While JCI itself is not the acquirer, the report's focus is on Tyco's consummation of its acquisition of The CIT Group, Inc. (CIT) on June 1, 2001. This transaction involved Tyco issuing approximately 132.1 million common shares and an upfront cash purchase of 71 million CIT shares for approximately $2.5 billion. This indicates a substantial shift in Tyco's asset base and potential implications for its financial structure and future performance. Investors should note that JCI is likely providing this information due to its relationship with Tyco or as part of its broader market intelligence. The acquisition is being accounted for as a purchase by Tyco, meaning CIT's assets and liabilities will be recorded at their fair values on Tyco's balance sheet. Information regarding the financial statements and pro forma financial information related to this acquisition has been previously filed by Tyco in earlier 8-K reports, suggesting that the detailed financials of CIT are available through those filings.

Key Highlights

1Tyco International Ltd. (Tyco) acquired The CIT Group, Inc. (CIT) on June 1, 2001.
2The acquisition involved Tyco issuing approximately 132.1 million common shares to CIT shareholders.
3Tyco also made an upfront cash purchase of 71 million CIT shares from The Dai-Ichi Kangyo Bank, Limited for approximately $2.5 billion.
4The funds for the cash portion of the acquisition were sourced from Tyco's commercial paper program, partially refinanced by a recent equity offering.
5Tyco is accounting for the acquisition using the purchase method, implying asset and liability revaluation.
6Relevant financial statements and pro forma information for the acquired CIT business have been previously filed by Tyco in other 8-K reports.
7This filing indicates a significant expansion of Tyco's asset base through a combination of stock issuance and substantial cash outlay.

Johnson Controls International plc 8-K Report (Jun 15, 2001)

Summary

Key Highlights

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