Johnson Controls Inc. (JCI) shareholders have voted to approve its previously announced merger with Tyco.
In a final count of the voting results, 97 percent of votes cast at a special meeting voted in favor of the transaction, representing more than 81 percent of all outstanding Johnson Controls shares as of the record date. The final vote results will be filed on a Form 8-K with the Securities and Exchange Commission.
Tyco shareholders also have approved the transaction.
JCI says the merger will create a global industrial leader uniquely positioned in the buildings and energy markets with $30 billion in annual revenue, by bringing together two leading businesses with best-in-class product, technology and services to deliver greater value to customers, shareholders and employees.
“I am pleased our shareholders have voted in favor of this powerful strategic combination, which will unite two world-class companies with complementary capabilities,” said Alex Molinaroli, chairman and CEO of Johnson Controls. “I am excited and enthusiastic as we create the world leader in buildings and energy systems with a strong leadership team and dedicated employees around the world ready to deliver on the promise of smarter cities and communities.”
The merger with Tyco is expected to be complete on Sept. 2.
