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From Tyco honcho to convict

NEW YORK (Reuters) - Following are key dates in Dennis Kozlowski's term as chief executive of conglomerate Tyco International Ltd.

@EDITRULE:

July 1992 - Dennis Kozlowski is named chief executive of Tyco after serving as the company's chief operating officer since 1989. The company, then mostly known for its fire protection and large valve business, is worth about $3 billion.

July 1994 - Tyco tackles first big-ticket acquisition under Kozlowski, purchasing Kendal International, maker of Curad bandages and other medical products, for $1.4 billion.

July 1997 - Tyco acquires burglar alarm and security firm ADT Ltd. Structured as a reverse merger, ADT technically bought Tyco and changed its name to Tyco International. The company moves its headquarters to Bermuda, where ADT is based.

April 1999 - Tyco purchases electronics maker AMP Inc. for $11.3 billion in stock.

October 1999 - Short-seller David W. Tice questions the use of large reserves related to acquisitions, saying they obscure results.

December 1999 - Tyco says the Securities and Exchange Commission is conducting a nonpublic, informal inquiry into charges and reserves linked to the company's acquisitions.

June 2000 - Tyco says it has amended earnings per share for fiscal 1999 and the first quarter of fiscal 2000 after the SEC review. The company also agrees to acquire health care firm Mallinckrodt for about $3.1 billion in stock in a deal making the company the world's No. 2 medical device maker.

March 2001 - Tyco enters the financial services business when it agrees to acquire commercial finance company CIT Group Inc. for about $10 billion.

January 2, 2002 - Tyco denies the SEC is launching a new investigation of the company after research company SEC Insight Inc. issues an alert on Tyco.

January 22, 2002 - Tyco says it plans to separate into four independent publicly traded companies: security and electronics; health care; fire protection; and flow control and financial services. The company says the move should unlock tens of billions of dollars in shareholder value. Tyco also says it plans to sell its plastics unit.

January 30, 2002 - Kozlowski and Chief Financial Officer Mark Swartz say they will each buy 500,000 shares of Tyco's stock, which had fallen to its lowest share price since the company's SEC investigation in 1999.

February 4, 2002 - Tyco says it spent more than $8 billion on more than 700 acquisitions in the past 3 years that it did not separately announce to the public. Standard & Poor's and Fitch ratings cut the company's credit ratings.

March 11, 2002 - Two groups of private equity firms offer to buy Tyco's plastics business.

March 12, 2002 - Tyco says it is on track to spin off CIT into an independent company by May, but also says it might sell off a piece of CIT before the move.

March 20, 2002 - A team of private equity firms approach Tyco with a proposal to buy a minority stake in CIT group for up to $1.5 billion. General Electric Co. says it has no interest in acquiring CIT.

April 24, 2002 - Sale of the company's plastic unit stalls because Tyco fails to come up with key financial data and may need to lower the unit's earnings forecast for the year.

April 25, 2002 - Tyco says it abandoned its plan to split into four companies, calling the strategy a mistake, and reported a $1.9 billion net loss in the March quarter, in a stunning about-face. CIT files for initial public offering for as much as $7.15 billion.

May 24, 2002 - Investment bank Lehman Brothers withdraws a $5.0 billion offer for CIT after news of the offer was leaked to the media.

June 3, 2002 - Kozlowski resigns abruptly amid mounting criticism of his flip-flopping corporate strategy and news he is under investigation for avoiding personal taxes. Former CEO John Fort, a current board member who headed the company from 1982 to 1992, assumes "primary executive responsibilities" for an interim period while Tyco looks for permanent successor.

June 4, 2002 - Kozlowski indicted on dodging New York state income taxes.

September 12, 2002 - Prosecutors and US regulators say Kozlowski and two of his top lieutenants were charged with using the conglomerate as their own private bank to buy homes, jewelry and yachts in a scheme to loot more than $600 million from the company. The US SEC and Manhattan prosecutors say Kozlowski was indicted for perpetrating the fraud with former Chief Financial Officer Mark Swartz and former general counsel Mark Belnick.

February 20, 2003 - Swartz indicted on evasion of federal income taxes.

October 8, 2003 - Case against Kozlowski and Swartz begins.

April 2, 2004 - Six-month trial of Kozlowski and Swartz ends in a mistrial after 12 days of deliberations after an apparent holdover juror received a threatening letter.

August 2, 2004 - Belnick acquitted of all charges.

Jan. 26, 2005 - Retrial of Kozlowski and Swartz begins.

May 24, 2005 - Lawyers complete case. Jury charged.

June 17, 2005 - Kozlowski and Swartz convicted on all counts except one. Face up to 25 years in prison.