Filed by Tyco International Ltd.
Pursuant to Rule 425 Under the Securities Act of 1933
Filer: Tyco International Ltd.
Subject Company: InnerDyne, Inc.
File Number for Related Registration Statement: 333-48180
FOR IMMEDIATE RELEASE
(Monday, November 27, 2000)
CONTACTS:
TYCO:
Investor Relations Media Relations
J. Brad McGee Judith Czelusniak
Executive Vice President, Senior Vice President,
Chief Strategy Officer Corporate Relations
Tyco International (US) Inc. Tyco International (US) Inc.
(603) 778-9700 (561) 988-7424
INNERDYNE:
William G. Mavity
President/CEO
InnerDyne, Inc.
(408) 745-6010
SEC DECLARES REGISTRATION STATEMENT EFFECTIVE
FOR INNERDYNE EXCHANGE OFFER
PEMBROKE, Bermuda and SUNNYVALE, Calif., November 27, 2000 -- Tyco International
Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC), a diversified manufacturing and service
company, and InnerDyne, Inc. (Nasdaq: IDYN), a medical manufacturer and
distributor of patented radial dilating access devices used in minimally
invasive surgical procedures, today announced that the Security Exchange
Commission has declared effective Tyco's registration statement relating to the
exchange offer of Tyco Acquisition Corp. X for the common stock of InnerDyne.
Tyco Acquisition is offering to exchange a fraction of a Tyco common share
valued at $7.50, determined as described in the prospectus for the offer, for
each share of InnerDyne common stock. The offer is scheduled to expire at 12:00
midnight on Wednesday, November 29, 2000.
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ABOUT INNERDYNE
InnerDyne designs, develops and manufactures minimally invasive surgical access
products that incorporate the company's proprietary radial dilation technology,
including the patented Step(TM) expandable needle system. Radial dilation
provides surgical access through expansion of a very small opening using
progressively larger blunt instruments.
ABOUT TYCO INTERNATIONAL
Tyco is a diversified manufacturing and service company. Tyco is the world's
largest manufacturer and servicer of electrical and electronic components; the
world's largest designer, manufacturer, installer and servicer of undersea
telecommunications systems; the world's largest manufacturer, installer and
provider of fire protection systems and electronic security services, and the
world's largest manufacturer of flow control valves. Tyco also holds strong
leadership positions in disposable medical products, diagnostic imaging, bulk
pharmaceuticals, wound closure, plastics and adhesives. Tyco operates in more
than 100 countries and has reported fiscal 2000 sales of approximately $28.9
billion.
Tyco has filed a registration statement on Form S-4, a Schedule TO, a prospectus
and other documents relating to the exchange offer and InnerDyne has filed the
related solicitation/recommendation statement on Schedule 14D-9 with the SEC.
Copies of these documents and other documents filed by Tyco and InnerDyne with
the SEC may be obtained at the SEC's web site at http://www.sec.gov. These
documents may also be obtained from Tyco or from InnerDyne by directing requests
to Tyco International Ltd., The Zurich Centre, Second Floor, 90 Pitts Bay Road,
Pembroke HM 08, Bermuda, tel: (441) 292-8674; or to InnerDyne, Inc., 1244
Reamwood Avenue, Sunnyvale, CA 94089, tel: (408) 745-6010.
Documents may also be obtained from MacKenzie Partners, Inc., the information
agent for the offer, 156 Fifth Avenue, New York, New York 10010, (212) 929-5500
(call collect) or (800) 322-2885 (toll free).
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