WSJ : Johnson Controls In Advanced Talks To Merge With Tyco

(RTTNews) - Johnson Controls Inc. (JCI) and Tyco International PLC (TYC) are in advanced talks to merge, the Wall Street Journal reported citing people familiar with the matter.

The report noted that the agreement, details of which could be announced as soon as Monday, comes as both companies struggle to bolster their stock prices.

While exact terms couldn't be learned, Johnson Controls has a market value of about $23 billion, while Tyco's was about $13 billion as of Friday's close. A deal could value Tyco at between $15 billion and $20 billion.

It is expected that Alex Molinaroli, Chief Executive officer of Johnson Controls, would run the combined company, according to the report.

Molinaroli has been planning to spin off the company's automotive-seating business this fall. It is unclear how a Tyco pact would affect those plans, the report noted.