Tyco Shares Rise After Honeywell Denial


Shares of Tyco Int’l Ltd. rose 4 percent today after the company shot down rumors it was interested in buying Honeywell Int’l Ltd.. The rumors were behind a drop of up to 9 percent in the company’s share price on Friday, traders and analysts said.

However, Tyco recovered some ground in after-hours trade Friday after denial by company spokesperson Maryanne Kane. “It is absolutely untrue. There are no talks and there is no interest,” she said.

A Wall Street analyst stated that the rumors about Honeywell did not make sense because Tyco concentrates on what it describes as friendly, bolt-on acquisitions that immediately add to the earnings of one of its business segments. The company does not buy conglomerates.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!

Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.

A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!

Subscribe Today!

Get Our Newsletters