Manufacturing Industry
Apollo to pay $975 million for Tyco unit.(Apollo Management LP)(Tyco International Ltd. (Pembroke, Bermuda))
Plastics News, January, 2006
Byline: Angie DeRosa The deal that the flexible packaging industry has been waiting for is moving forward, as Apollo Management LP of New York has agreed to pay $975 million in cash for Tyco's Plastics, Adhesives and Ludlow Coated Products businesses. The companies announced the sale Dec.
20. The deal, in which Apollo will acquire Tyco's Plastics, Adhesives and Ludlow Coated Products businesses, is subject to regulatory approval but is expected to close in early 2006, Apollo officials said in a news release. The sale does not include Tyco's A&E Products Group, which makes clothes hangers. That unit will be sold separately, but Pembroke, Bermuda-based Tyco will not provide a time frame on that sale, a spokeswoman said by telephone Dec. 21. "We are...
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