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Path Cleared for Tyco Split

Conglomerate Tyco International Ltd.'s plan to split into three companies got a boost when a group of shareholders said they would drop a federal lawsuit seeking to block the breakup. According to the Associated Press , the shareholders wanted to ensure their recovery rights from a potential settlement in a securities fraud case. They have been assured that the three new companies will share the liability.

Tyco's medical products include pulse oximeters, surgical supplies, wound care products, and safety needles. These would form one of the new companies, Tyco Healthcare. Being part of a smaller corporation should only help those businesses. They'll be more of a focus under the new structure. And focus was one of many things the old Tyco lacked.

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