Gaardner denver holdings spin ioff11/10/2022 ![]() ![]() Trades under the symbols “IR WI” and “GDI WI” will settle after the closing date of the merger. This option will be available under the temporary NYSE symbol “GDI WI”. Trading options prior to the closing of the merger for Ingersoll Rand shareholders will be provided by the NYSE on or about Februand include:ĭuring this period, if Ingersoll Rand shareholders sell ordinary shares of Ingersoll Rand stock in the regular way market (under Ingersoll Rand’s existing NYSE symbol “IR”), shareholders will be selling both ordinary shares of Ingersoll Rand and the right to receive shares of Gardner Denver common stock pursuant to the merger.ĭuring this period, if Ingersoll Rand shareholders sell ordinary shares of Ingersoll Rand stock in the “ex-distribution” market (under the temporary NYSE symbol “IR WI”), shareholders will be selling only ordinary shares of Ingersoll Rand and will be retaining the right to receive shares of Gardner Denver common stock pursuant to the merger.ĭuring this period, Ingersoll Rand shareholders also have the option of selling right to shares of Gardner Denver common stock and retain ordinary shares of Ingersoll Rand in the “when issued” market. Also during this period, an Ingersoll Rand shareholder can sell the right to his or her Gardner Denver common stock that he or she will receive pursuant to the merger in a “when issued” (WI) market. Ingersoll Rand has been advised by the NYSE that, beginning on/or about Februand continuing through the last trading day prior to the closing date of the merger, there will be two markets in ordinary shares of Ingersoll Rand on the NYSE: a “regular way” market and an “ex-distribution” market. When Issued (WI) Trading to Begin for Ingersoll Rand on New York Stock Exchange (NYSE) No fractional shares of Gardner Denver common stock will be issued in the merger, and instead Ingersoll Rand shareholders will receive cash in lieu of any fractional share. No action is required by Ingersoll Rand shareholders to receive their shares of Gardner Denver common stock in the merger. 1 The actual number of shares of Gardner Denver common stock that Ingersoll Rand shareholders will receive with respect to each ordinary share of Ingersoll Rand will be determined based on the number of shares of Gardner Denver common stock outstanding on a fully-diluted, as-converted and as-exercised basis and the number of ordinary shares of Ingersoll Rand outstanding on the actual record date.ġ This hypothetical is based on the number of shares of Gardner Denver common stock outstanding on a fully-diluted, as-converted and as-exercised basis (determined using the treasury method based on the closing stock price of Gardner Denver common stock on January 31, 2020) and the number of ordinary shares of Ingersoll Rand outstanding, each as of January 31, 2020. Upon completion of the merger, Ingersoll Rand shareholders are expected to collectively own approximately 50.1% of the shares of Gardner Denver common stock on a fully-diluted basis, and current Gardner Denver stockholders are expected to collectively own approximately 49.9% on a fully-diluted basis.Īs an example, using a hypothetical record date of Januand assuming 238,401,033 Ingersoll Rand shares outstanding and 210,398,480 Gardner Denver shares outstanding, the total shares of Gardner Denver common stock issued pursuant to the merger would equal 211,241,761 shares (or approximately 0.8861 of a share of Gardner Denver common stock with respect to each ordinary share of Ingersoll Rand). In connection with the merger, the Ingersoll Rand Industrial shares would be converted to the right to receive Gardner Denver shares as illustrated in the hypothetical below. Immediately following the spin-off, Ingersoll Rand Industrial will merge with a subsidiary of Gardner Denver. ![]() The distribution will not impact the number of shares held by shareholders in Ingersoll-Rand plc, which is expected to change its name to Trane Technologies plc and its ticker symbol to “TT” following the merger. ![]() ![]() #Gaardner denver holdings spin ioff pro(“Ingersoll Rand Industrial”), to Ingersoll Rand shareholders as of the record date by means of a pro rata distribution. 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. The spin-off and the previously announced merger are expected to be completed on February 29, 2020, subject to certain remaining conditions including the approval by the stockholders of Gardner Denver Holdings, Inc. Ingersoll-Rand plc (NYSE: IR) today announced that it has set a record date of Februfor the proposed spin-off of its Industrial segment. ![]()
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