WASHINGTON (dpa-AFX) - Pentair Inc. (PNR) Wednesday announced the European Commission has cleared under the EU merger regulation to combine the flow control business of Tyco International Ltd. with Pentair in a tax-free, all-stock merger.
This clearance satisfies one of the conditions to closing of the merger, which remains subject to approval of the spin-off by Tyco shareholders, the approval of the merger by Pentair shareholders, other foreign regulatory approvals and other customary closing conditions.
Copyright RTT News/dpa-AFX
