NEW YORK (Reuters) Conglomerate Tyco International Ltd. said yesterday it will sell $2.20 billion in common stock in a public offering to repay debt from recent acquisitions.

The Bermuda-based company said it will sell the 39 million shares through Lehman Brothers in an underwritten public offering of about $2.20 billion, net of underwriting discounts. Lehman also has a 30 day option to purchase up to an additional 5,247,787 common shares to cover over-allotments, Tyco said.

The offering is scheduled to close on June 6.

Tyco said on Wednesday it agreed to buy medical device maker C.R. Bard Inc. for about $3.2 billion in stock, in a move to broaden the scope of its medical products business. Tyco, which operates from Exeter, New Hampshire, is one of the nation's most aggressive corporate buyers. In one of its larger deals, Tyco recently agreed to buy commercial finance firm CIT Group Inc. for $9.2 billion.

Shares of Tyco rose $1.15 to $57.45 in New York Stock Exchange trading yesterday.