Johnson Controls, Tyco merge in tax-avoiding inversion deal

January 25, 2016 2:13 PM

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Johnson Controls, Tyco merge in tax-avoiding inversion deal

Manufacturing giants Johnson Controls and Tyco International plan to merge in another example of a controversial tax inversion, creating an industrial conglomerate with $32 billion in annual revenue.

The deal marks the latest occurrence of a corporate inversion, in which a U.S.-based company acquires a foreign firm and switches its headquarters to the foreign firm's home to lower its tax bill.

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