() is expected to announce the spin-off of its security division, according to media sources.
Ingersoll's biggest business is heating and cooling systems as a result of its 2008 purchase of Trane. It also makes industrial air compressors and golf carts.
The company, which has a market value of more than $14.5 billion, also plans to buy back shares and increase dividends, a source told Reuters.?
The spin-off, buybacks and dividend hikes are part of a strategic review undertaken by Ingersoll after investor Nelson Peltz's Trian Fund Management LP acquired a stake of about 7 per cent and proposed a break-up of the company.?
Peltz joined the company's board in August after three months of arguing for changes at the manufacturer.
Ingersoll's security technology division, which manufactures mechanical and electronic locks as well as steel doors, had operating income of more than $330 million in 2011 on revenue of $1.63 billion.
The sources did not provide a valuation for the division. Ingersoll and Peltz declined to comment.
Peltz has suggested separating Ingersoll's main business units into three separate publicly-listed companies focused on air conditioning and heating, security, and the remainder of its industrials businesses.
Some analysts agreed, saying that Ingersoll's shares were undervalued because of its disparate businesses. Several other diversified conglomerates have also decided to break up, often under pressure from activist investors.
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