Tag Archives: IR

Spinoffs From Gabelli, Cohen At Barron’s Midyear Roundtable

Highlighting the Barron’s Roundtable’s spinoff picks is always one of our most popular pieces every year. Sadly, we missed it earlier this year, but Barron’s does publish a midyear check in every July. It’s not as comprehensive as the beginning of the year Roundtable gathering, but it still features some talk about the economy, predictions for the market… Read More »

Ingersoll Rand and Gardner Denver To Put Their Whole Selves In, Reverse Morris Trust It All Around

That’s what it’s all about. How do you sell off part of your business and not pay taxes? The answer, of course, is a reverse Morris Trust transaction. Ingersoll-Rand(IR) is an Ireland-based industrial conglomerate with a $30 billion market cap and 49,000 employees. Ingersoll Rand is no stranger to these pages, having spun off its security business as… Read More »

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 »

Ingersoll Rand Sets Allegion Spinoff For December

It’s almost go time for Ingersoll Rand’s (IR) spinoff of Allegion, its commercial and residential security business. Shareholders will receive one share of Allegion for every 3 shares of IR owned with the distribution taking place on December 1st to shareholders as of the November 22nd record date. The new company will trade on the NYSE under the… Read More »

Nonstick: DuPont May Spin Off Performance Chemical Business Including Teflon

There are few companies in America with as long a history as DuPont (DD). Started as a gunpowder mill in Delaware in 1802, the company has been a fixture on the American business landscape for over two centuries. DuPont was a force behind the creation and growth of General Motors (GM) and invented many of the signature materials… Read More »

Ingersoll-Rand Pledges Allegion To The Spin

Months after caving into demands from activist investor Nelson Peltz to break itself up, Ingersoll-Rand (IR) has started releasing details on its commercial & residential security spinoff. The new company will be named Allegion and is expected to trade on the NYSE under the ticker ‘ALLE’. According to the press release, the name was chosen because it represents ‘the… Read More »

In Partial Victory For Peltz, Ingersoll Rand to Spin Off Security Business

Nelson Peltz is a name that comes up not infrequently in the world of spinoffs. We reported in August, that, after protracted discussions, he had gained a board seat at Ingersoll Rand (IR) and was pushing for the company to split into three publicly traded firms. Today, Ingersoll Rand announced that it will be combining its residential and… Read More »

Peltz Gains Board Seat, Pushes for Breakup at Ingersoll Rand

This author wonders what activists will do once the market’s conglomerates have all been broken up.  Nelson Peltz of Trian Group gaining a board seat at Ingersoll Rand may be the latest harbinger of yet another spinoff on the horizon.  Peltz had been trying to get a board seat and push for change but the company up to this point… Read More »