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Tyco (TYC +0.3%) receives an upgrade to Outperform from Barclays a day after agreeing to merge...
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Thursday, March 29, 2012, 4:04 PM ETTyco (TYC +0.3%) receives an upgrade to Outperform from Barclays a day after agreeing to merge with Flow Control division with Pentair (PNR). The division, which accounted for roughly 1/3 of Tyco's FQ1 operating income, is the company's "least attractive standalone asset," says Barclays, and getting rid of it in a deal that effectively amounts to a sale improves Tyco's risk profile.
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