Ingersoll-Rand Completes Allegion Spinoff

Ingersoll-Rand (IR) completed the spinoff of its commercial and residential security business, Allegion (ALLE). The new company started trading today on the NYSE and IR shareholders should have received 1 share of ALLE for every 3 shares of IR owned. The new company is expected to have revenues of over $2b and EBITDA of over $400m. For much… Read More »