Should the valuation disconnect persist, we are prepared to take additional actions to address this,

For the past six months we have been putting plans in place to accelerate restructuring actions to address our high-cost footprint and we are now ready to implement those plans,

In the past several years, Tyco has come a long way.

We are very good at doing design and living next door to our customer. We've been moving with them. It's the reason we've got 30,000 Tyco electronics employees right now in China in 21 locations.

We believe that Tyco's shares are undervalued and ... we have been an active purchaser of our equity,

After a thorough review of strategic options with our board of directors, we have determined that separating into three independent companies is the best approach to enable these businesses to achieve their full potential.