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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: 249443 who wrote (3210)	4/26/2002 7:44:29 AM
From: GVTucker	Read Replies (1) \| Respond to of 3770

mrcjmoney, RE: I've received about half a dozen emails -- from friends who work in the financial industry -- stating that the current rumor is that the potential buyers of Tyco's plastic division all walked away, in part, due to Tyco's managements inability to provide the needed financial documents to verify the plastics division financial condition/profitability. Many are talking about this issue. I would like to find confirmation of this. I don't think it is quite that nefarious, although it could be termed questionable. Apparently TYC represented plastics as having a certain amount of operating earnings last year and in the 4Q. To make those numbers, TYC plastics reversed some reserves to provide a significant boost to 4Q earnings. The buyout funds that were checking out the books all decided that the dependable, ongoing earnings for the plastics division were much less than TYC was representing.