![]() Prior results do not guarantee a similar outcome. Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.Īttorney advertising. ![]() Serra toll-free at (888) 969-4242, by e-mail at or at. If you own common stock of Gardner Denver and purchased any shares before May 1, 2019, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. The combination will result in existing Ingersoll Rand shareholders owning 50.1% of the combined company, with existing stockholders of Gardner Denver owning 49.9% of the combined company. The proposed transaction will be effected through a "Reverse Morris Trust" transaction pursuant to which Ingersoll Rand's Industrial segment ("Ingersoll Rand Industrial") is expected to be spun-off to Ingersoll Rand's shareholders and simultaneously merged with and surviving as a wholly-owned subsidiary of Gardner Denver. ("Gardner Denver" or the "Company") (NYSE: GDI) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to merge with Ingersoll-Rand plc ("Ingersoll Rand") ( IR). announces that it is investigating potential legal claims against the board of directors of Gardner Denver Holdings, Inc. ![]() (NYSE: GDI )?ĭid you purchase any of your shares prior to May 1, 2019?ĭo you think the proposed merger is fair? merged with Ingersoll-Rand plcs Industrial segment. The transaction is expected to close by early 2020, subject to approval by Gardner Denver stockholders, regulatory approvals and customary closing conditions.WILMINGTON, DE / ACCESSWIRE / J/ Rigrodsky& Long, P.A.:ĭo you own shares of Gardner Denver Holdings, Inc. Industrial segment by way of spin-off to its shareholders, following which Gardner Denver Holdings, Inc. We look forward to offering this equity award to all eligible employees of the combined company and working together to drive the business forward to create value for all of our shareholders.” “We believe in fostering an ownership mentality, and that this drives motivation and engagement, something that has been clear in Gardner Denver’s strong performance. “In the same spirit in which we granted stock to our employees during Gardner Denver’s IPO, we feel strongly that all employees of IndustrialCo should be owners of their business,” said Gardner Denver’s Stavros. “This transaction will create a global leader in mission-critical flow creation and industrial technologies, and accelerate both companies’ strategic priorities of deploying talent, driving growth, expanding margins through increased efficiencies and allocating capital effectively,” said Gardner Denver’s Reynal.įollowing the close of the transaction, IndustrialCo intends to grant all employees of the combined company – who are not already equity eligible – with an equity award in IndustrialCo. ClimateCo will receive US$1.9 billion in cash from Ingersoll Rand Industrial that will be funded by newly-issued debt assumed by Gardner Denver in the merger. ![]() Existing Ingersoll Rand shareholders will own 50.1% of the combined company, with existing Gardner Denver stockholders holding 49.9%. Through the “Reverse Morris Trust” transaction, Ingersoll Rand Industrial is expected to be spun off to Ingersoll Rand’s shareholders and simultaneously merged with and surviving as a wholly-owned subsidiary of Gardner Denver. ![]() Michael Lamach, Ingersoll Rand’s chairman and CEO, along with the current Ingersoll Rand executive team, will continue to lead ClimateCo, which is expected to be renamed. IndustrialCo’s corporate operations will be located in Davidson, North Carolina. The IndustrialCo board will be headed by Gardner Denver chairman Peter Stavros and include seven Gardner Denver and three Ingersoll Rand designated directors. Gardner Denver CEO Vicente Reynal and executives from both companies will lead IndustrialCo. GAARDNER DENVER HOLDINGS SPIN IOFF PROIndustrialCo will have 2019 pro forma revenue of around US$6.6 billion. IndustrialCo, which is expected to be called Ingersoll Rand and trade under Ingersoll Rand’s existing ticker (NYSE: IR), will be home to Gardner Denver and Ingersoll Rand Industrial, including I ngersoll Rand’s pending acquisition of Precision Flow Systems (PFS), which is expected to close by mid 2019. Ingersoll Rand’s current HVAC and transport refrigeration assets will become a pure play global leader in climate control solutions for buildings, homes and transportation (ClimateCo). Ingersoll-Rand plc is to spin off its Industrial segment (Ingersoll Rand Industrial) and combine it with Gardner Denver Holdings Inc, creating an industrial company (IndustrialCo) valued at approximately US$15 billion. ![]()
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