Dennis Kozlowski took over the helm of Tyco International, Ltd. (Tyco) in 1992. By the end of its 2001 fiscal year, Kozlowski's Tyco had made over 100 announced purchases with total revenues in excess of $30 billion (Display 1). Kozlowski's strategy, named "growth on growth," fueled Tyco's aggressive approach towards purchases and took the business from just over $3 billion of sales in 1992 to $36 billion in 2001.
Investors supported Tyco's strategy as evidenced by the tenfold increase in Tyco's stock price over precisely the same period (Exhibit 2). Buy." But was the evidence really there? This case describes the mergers and acquisitions activity of Tyco Corporation from its founding through the Kozlowski era. In particular, it focus on accounting practices used in concert with M&A activity that functioned to falsify Tyco's gains. It goes into detail regarding the CIT acquisition.
TYCO M&A Machine Case Study Solution
PUBLICATION DATE: March 12, 2009 PRODUCT #: A202-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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