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Article: Comdisco-Tyco Deal Falls Apart.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 1, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Rob Kaiser, Chicago Tribune Knight Ridder/Tribune Business News
Feb. 1--Talks to sell bankrupt Comdisco Inc.'s largest remaining unit to Tyco International Ltd. fell apart late Thursday, accoording to a source familiar with the discussions.
Tyco's bid for Comdisco's information technology leasing business was set to expire at midnight.
While earlier in the day the deal appeared to be complete--and Comdisco set a Friday morning meeting to announce it to employees--the transaction later dissolved.
TheDeal.com, which reports on bankruptcies, attributed the breakup to Tyco's recent stock plunge.
Shares of the conglomerate ...