Rumors Surface That Ingersoll Rand’s Industrial Segment Is Merging With Gardner Denver
Ingersoll Rand’s stock opened the April 29 trading day up 5% following a Wall Street Journal report that claimed a merger between Ingersoll Rand’s industrial segment and Gardner Denver is imminent. Per the report, Ingersoll Rand shareholders will receive a mix of cash and Gardner Denver stock, and a Reverse Morris Trust structure will allow Ingersoll Rand to avoid taxes on the divestiture.Sources told The Wall Street Journal that the combined business will have an enterprise value of approxima...
Ingersoll-Rand provides products, services and solutions to enhance air in homes and buildings, transport and protect food. Co.'s segments are: Climate. which includes Trane® and American Standard® Heating & Air Conditioning, providing heating, ventilation and air conditioning systems, and commercial and residential building services, parts, support and controls, energy services and building automation as well as transport temperature control solutions; and Industrial, which includes compressed air and gas systems and services, power tools, material handling systems, ARO® fluid management equipment, as well as Club Car ® golf, utility and rough terrain vehicles.
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