Tyco Intl. to buy Surgical: $3.3B

Article Abstract:

Tyco International, a large fire and security systems company based in Norwalk, CT, has decided to invest $3.3 billion on its purchase of US Surgical. The transaction is expected to turn Tyco into a vital force in the medical products industry. The disposable medical products operations of Tyco are expected to acquire an additional $4.5 billion, equivalent to nearly one-third of the yearly sales, from the purchase. US Surgical, which creates surgical products such as disposable instruments, sutures, and surgical staplers, generates around $1.4 billion in revenues per year.

Comment:

Has decided to spend $3.3 billion to purchase US Surgical which creates surgical products

Surgical Appliance and Supplies Manufacturing, Connecticut, Medical Instruments & Equipment, Medical Equipment and Supplies Manufacturing, Disposable Medical Supplies, Medical equipment, Tyco International Ltd. (Pembroke, New Hampshire), United States Surgical Corp., Article

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BP Amoco's $25B deal guzzles jobs

Article Abstract:

BP Amoco's $25.2 billion acquisition of Atlantic Richfield Co (Arco) is expected to result in the elimination of 2,000 Arco jobs as part of the efforts to reduce annual costs by $1 billion by 2001. The largest number of job cuts will be implemented in Alaska, where both firms have overlapping operations which will have to be downsized. Their merger was the result of the depressed price of oil on the world market which has led to the merger of other major oil industry players.

Petroleum Refineries, Oil Products, Atlantic Richfield Co.

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AT&T reaching out ot British Telecom

Article Abstract:

AT and T CEO C. Michael Armstrong is expected to ask his board of directors during their annual meeting starting on Sep 21, 2000 to approve the merger of AT and T's business services divisions with British Telecommunications PLC to form a separately held company. If approved, a final deal could be agreed on before October. The AT and T board and top executives will also be discussing the company's ailing long-distance business during the meeting.

Broadcasting and Telecommunications, Communications, AT&T Corp.

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