JP Morgan On Schneider TYC Acquisition

JP Morgan has issued a report regarding the possible merger between Schneider Electric and Tyco International TYC. JP Morgan writes, “TYC would increase commercial buildings presence in North America. We believe the commercial fire/security assets (60% of sales) have the most natural fit within Schneider, adding to the company's related electrical and building automation products.” TYC is rated Overweight and has a Price Target of $53. TYC closed yesterday at $47.15 a share.