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Tyco gets go-ahead for takeover

for its take over from Central Sprinkler Corporation's shareholders late last week.Under the terms of the deal -- just one of many so far this year for ambitious Bermuda-registered Tyco --

for its take over from Central Sprinkler Corporation's shareholders late last week.

Under the terms of the deal -- just one of many so far this year for ambitious Bermuda-registered Tyco -- Central Sprinkler shareholders will receive $30 cash for each share.

The acquisition was complete on Friday, as the announcement of the final nod was made to the media.

Central Sprinkler, with annual revenues of more than $200 million, is a leader in the fire sprinkler industry.

It designs, manufactures and distributes a complete line of fire sprinklers, valves and accessories, PVC pipe and fittings, steel pipe and iron grooved products.

Tyco's chairman and CEO Dennis Kozlowski said the target of this takeover was an "excellent fit'' with Tyco's existing related businesses and operating efficiencies would result in an immediate positive impact on earnings.

"The product line and customer base are very complementary to Tyco's existing fire sprinkler businesses in the United States, Canada and Europe,'' he said.

"This acquisition provides significant opportunities for enhanced growth as well as marketing efficiencies.'' Tyco has lucrative interests in niche markets involving everything from electronic security services to telecommunications, disposable medical products and adhesives.

Even before this take-over it operates in more than 80 countries around the world and has expected fiscal 1999 revenues in excess of $22 billion.