NEW YORK Dec 9 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.