Johnson Controls Merging With Tyco International, Headquarters To Be In Ireland

Johnson Controls Inc and Tyco International Plc announced plans to merge, creating a company with revenue of about $32 billion that will be based in low-tax Ireland -- a sign that market volatility has not derailed strategic mergers.

Milwaukee-based Johnson Controls, which has a market value $23 billion, makes heating and ventilation systems and car batteries, while Cork, Ireland-based Tyco, valued at $13 billion, specializes in fire protection systems.