Tyco cancels proposed breakup of company:
This article was originally published in Clinica
Tyco International shares dropped to below $20 - its lowest level in around four years - after the company yesterday abandoned plans to split into four separate businesses. The conglomerate announced the proposed split in January (see Clinica No 993, p 15). Chairman and CEO Dennis Kozlowski said in a letter to shareholders: "But we now know it was a mistake and it is time for us to return our focus to what we do best."