Johnson Controls is merging with Tyco

REUTERS

(Reuters) - Johnson Controls Inc, a maker of car batteries and heating and ventilation equipment, said on Monday it would merge with Ireland-based fire protection and security systems maker Tyco International Plc.

Johnson Controls' shareholders will own about 56 percent of the combined company and receive a cash consideration of about $3.9 billion, upon closure of the deal.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)