Tyco International Ltd. (Hamilton, Bermuda) agreed to buy AMP Inc. (Harrisburg, PA) in a stock swap

    Jan. 1, 1999

    Tyco International Ltd. (Hamilton, Bermuda) agreed to buy AMP Inc. (Harrisburg, PA) in a stock swap valued at $11.3 billion. The Tyco offer, a stock-for-stock transaction, is valued at $51 per share to AMP stockholders who will receive 0.7839 shares of Tyco stock for each share of AMP. The deal came about four months after AlliedSignal Inc. (Morristown, NJ) launched a $10-billion takeover bid. AlliedSignal decided not to counter with an increased offer.

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