Reuters: Regulatory News: Bribery costs Tyco over $26 mln in US penalties, lost profits

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Bribery costs Tyco over $26 mln in US penalties, lost profits Sep 24th 2012, 18:33 WASHINGTON, Sept 24 | Mon Sep 24, 2012 2:33pm EDT WASHINGTON, Sept 24 (Reuters) - Tyco International Ltd and a subsidiary have agreed to pay more than $26 million to resolve a case with prosecutors and regulators under a U.S. law barring foreign bribery payments, according to court documents and a news release on Monday. The amount includes a $13.68 million penalty after a wholly owned subsidiary of Tyco - Tyco Valves & Controls Middle East Inc - pleaded guilty to conspiring to pay bribes to obtain contracts with Saudi Aramco, the U.S. Justice Department said. That is in addition to a previously announced $13.1 million disgorgement under an agreement between Tyco and the U.S. Securities and Exchange Commission.

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