Thursday, 28 August 2014
Last updated 13 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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