Ingersoll Rand to acquire Trane for $10.1 billion

Ingersoll Rand signed a definitive agreement to acquire Trane Inc. (formerly American Standard Companies) in a cash-and-stock deal valued at approximately $10.1 billion, including the assumption of debt. The transaction was expected to close in early 2008.

“Ingersoll Rand announced that it has executed a definitive agreement to acquire Trane Inc., formerly American Standard Companies Inc., in a transaction valued at approximately $10.1 billion, including transaction fees and the assumption of approximately $150 million of Trane net debt.”

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