Re: ADT Essential Wireless Package

[J. <jsloud2001<removeme>@netscape.net>]

On Mon, 31 Jul 2006 18:31:49 -0700, "Doug L" <vssdoug@xxxxxxx> wrote:

>
>http://www.sourcewatch.org/index.php?title=Tyco_International_Ltd.
>merged into ADT Limited, a Bermuda corporation. The name of the combined
>company was changed from ADT Limited to Tyco International,
>
>http://www.businessweek.com/magazine/content/01_22/b3734001.htm
>When Tyco snapped up Bermuda-based ADT, he structured the deal as a reverse
>merger, moving Tyco's headquarters to an island haven where the corporate
>tax rate is zero
>
>http://www.mindfully.org/Industry/Tyco-Spent-Millions-Kozlowski7aug02.htm
>1997 Tyco merges with Bermuda-based ADT, whose operations base is in Boca
>Raton, Fla.
>
>http://www.answers.com/topic/tyco-international
>With the acquisition of ADT Security, Tyco moved its incorporation (but
>little else) to Bermuda in 1997. While publicly part of the merger (ADT was
>already incorporated in Bermuda),
>
>http://www.pulitzer.org/year/2003/explanatory-reporting/works/wsj6.html
>That year, Tyco did its biggest deal ever, a $6.6 billion merger with
>Bermuda-registered ADT Ltd., the world's leading provider of security
>alarms. The merger was structured as an ADT takeover of Tyco, so that the
>surviving company could stay in tax-friendly Bermuda
>
>Doug
>
>
>"J. @netscape.net>" <jsloud2001<removeme> wrote in message
>news:6kusc2lvg741128grg2na2f2ulq4cg1a69@xxxxxxxxxx
>
>> ADT has always been headquartered in the US.
>>


ADT has never been headquartered in Bermuda.  The company was
incorporated there, but all of the corporate management worked in the
the United States in New Jersey and then in Boca Raton.  As everyone
knows, Bermuda is a corporate tax shelter.  The company was never run
from Bermuda.  Tyco thought the ADT buy would get better shareholder
support if they could show the cost savings of moving the place of
incorporation to Bermuda.  Interestingly enough, in the post 911
world, Tyco management wanted to move the place of incorporation back
to the US, but the shareholders voted no at the annual meeting a
couple years ago.