Ingersoll-Rand to spin off security business-sources
NEW YORK |
NEW YORK Dec 9 (Reuters) - Diversified industrial conglomerate Ingersoll-Rand is expected to announce as soon as Monday that it will spin off its security division, two people familiar with the matter said.
It also plans buy back shares and increase dividends in order to boost shareholder value, one of the sources said.
Ingersoll-Rand said earier this year it would undertake a strategic review, following pressure from activist investor Nelson Peltz, whose Trian Fund Management LP has acquired a roughly 7 percent stake and proposed a break-up of the company.
Representatives for Ingersoll-Rand and Nelson Peltz did not immediately respond to requests for comment. The people asked not to be identified because the matter is not public.
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