Ingersoll Rand to Spin Off Industrial Segment, Merge with Gardner Denver

Ingersoll-Rand plc announced the record date for the spin-off of its industrial segment into a new entity, Ingersoll Rand Industrial, which will then merge with a subsidiary of Gardner Denver Holdings, Inc. The spin-off and merger are expected to close on February 29, 2020, subject to Gardner Denver stockholder approval.

“On February 14, 2020, Ingersoll-Rand plc (“Ingersoll Rand”) issued a press release announcing a record date of February 24, 2020 for the previously announced spin-off of Ingersoll Rand’s industrial segment. Subject to the satisfaction or waiver of customary closing conditions, Ingersoll Rand will distribute all of the shares of common stock of its wholly owned subsidiary, Ingersoll-Rand U.S. HoldCo, Inc. (“Ingersoll Rand Industrial”), to Ingersoll Rand shareholders as of the record date by means of a pro rata distribution. Immediately following the spin-off, Ingersoll Rand Industrial will merge with a subsidiary of Gardner Denver Holdings, Inc. (“Gardner Denver”).”

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