Tyco will pay $250 million to settle bondholders’ lawsuit

Sunday, June 1, 2008

PEMBROKE, Bermuda--Tyco Inter-national announced in April that it would pay $250 million to bondholders who filed a lawsuit in 2006 when Tyco announced plans to spin off its electronics and health care businesses. The bondholders said the conglomerate failed to get their approval for the spin off. Tyco denied any wrongdoing. The settlement must be approved by bondholders.