Peltz Wins Ingersoll-Rand Security Co. Spin-Off

Dec 11 2012 | 9:34am ET

Four months after joining Ingersoll-Rand's board of directors, Nelson Peltz has decided to compromise with the company.

The Trian Fund Management chief has agreed to drop his call for Ingersoll to be split into three companies in exchange for a spin-off of its security-technology business. In addition, Ingersoll has agreed to launch a $2 billion share-buyback program and to boost its dividend by 31%.

The spin-off will be completed in about a year, Ingersoll said.

"The spin-off plan, the substantial dividend increase and the return of additional capital to shareholders should crystallize value at Ingersoll-Rand," Trian, which owns 7% of the company, said.

Ingersoll gave Peltz a board seat in August to avoid a proxy fight and launched the strategic review that produced the spin-off plan.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note