Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 20, 2019

Article Excerpt

INGERSOLL-RAND PLC, $135.01, symbol IR on New York, is a diversified industrial company focused on heating, ventilation and air conditioning (HVAC), along with transport refrigeration, compressors, power tools, and golf carts. In April 2019, the company announced that it would spin off its industrial business, which includes pumps, power tools and other products, to its shareholders. It will then merge it with Gardner Denver Holdings Inc. (symbol GDI on New York). That firm specializes in industrial flow control products, including pumps, vacuums, and related products and services. Upon the completion of the transaction, expected in early 2020, the new, merged company will be called Ingersoll-Rand. The remaining HVAC and transport refrigeration assets of the current Ingersoll Rand will become Trane Technologies plc. Trane will be a global leader in climate control technologies for buildings, homes and transportation. Its brands include Trane and Thermo King. Trane will trade on New York under the symbol TT. Current Ingersoll-Rand chairman and CEO Michael Lamach will run…