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Fly News Breaks for April 6, 2016
TYC, JCI
Apr 6, 2016 | 09:08 EDT
Bernstein says that the Johnson Controls (JCI)-Tyco (TYC) deal won;t be derailed by the new inversion rules, as Tyco is not a "serial inverter," according to the firm. The firm adds that the earnings stripping rules shouldn't affect the companies because current loans are grandfathered. Bernstein, however, thinks that tax rates for Ireland based companies, including Tyco, could slowly increase, but it keeps a $41 price target and Outperform rating on Tyco.
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