After the merger, Pentair Ltd is approximately 52.5% owned by Tyco shareholders and nearly 47.5% by Pentair Inc shareholders on a diluted basis, with about 210m shares outstanding.
In addition, the executive team of Pentair Inc remains in place as the senior executive team of the combined company and Pentair’s board of directors assumed the same positions in Pentair Ltd.
Commenting on the merger, Pentair Ltd chairman and CEO Randall J Hogan said, "We now have an even stronger company, with the scale to capitalize on our growth opportunities, unlock substantial synergies and generate strong shareholder returns."
The newly formed company currently employs 30,000 people in over 30 countries and operates about 100 manufacturing facilities.
Hogan noted that the shared vision of the two companies and commitment to operational excellence through Pentair’s Integrated Management System would lead to better growth and success.
