Tyco's Kozlowski and Swartz to Buy 1 Million Shares of Tyco Stock
Jan 30, 2002
|Tyco's Kozlowski and Swartz to Buy 1 Million Shares of Tyco Stock|
|PEMBROKE, Bermuda, Jan 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- Tyco International Chairman and Chief Executive Officer, L. Dennis Kozlowski, announced today that he intends to purchase, in the open market, with his own funds, 500,000 shares of Tyco common stock, and Tyco Chief Financial Officer, Mark Swartz, intends to purchase, also with his own funds, 500,000 Tyco shares. Mr. Kozlowski further announced that the window is open for other Tyco officers and directors to purchase shares as well. In making this announcement, Mr. Kozlowski reaffirmed his belief that the company is substantially undervalued by the marketplace, and his complete confidence in the long-term investment value of Tyco shares.
About Tyco International, Ltd.
Tyco International Ltd. (NYSE: TYC, LSE: TYI, BSX: TYC) is a diversified manufacturing and service company. Tyco is the world's largest manufacturer and servicer of electrical and electronic components; the world's largest designer, manufacturer, installer and servicer of undersea telecommunications systems; the world's largest manufacturer, installer and provider of fire protection systems and electronic security services and the world's largest manufacturer of specialty valves. Tyco also holds strong leadership positions in disposable medical products, financing and leasing capital, plastics and adhesives. Tyco operates in more than 100 countries and had fiscal 2001 revenues of approximately $36 billion.
SOURCE Tyco International, Ltd.