Johnson Controls (JCI) and Tyco (TYC) announced they have entered into a definitive merger agreement under which Johnson Controls will combine with Tyco. Johnson Controls shareholders will own approximately 56 percent of the equity of the combined company and receive aggregate cash consideration of approximately $3.9 billion. Current Tyco shareholders will own approximately 44 percent of the equity of the combined company. Tyco has secured a committed $4.0 billion bank facility to finance the cash consideration.