Ingersoll Rand, plc spun off Ingersoll Rand Industrial. This spinoff was then immediately merged into Gardner Denver. The combined company then changed its name to Ingersoll Rand, Inc. and the ticker symbol to IR. The parent company, Ingersoll Rand, plc also changed its name to Trane Technologies and its ticker symbol from IR to TT. These transactions were completed on March 1, 2020. The transactions were structured to be non-taxable to Ingersoll Rand, plc. shareholders.
This is entered as two transactions. Due to the parent company changing its name and ticker symbol and the daughter company using the old parent company ticker symbol, a merger of Ingersoll Rand, plc into Trane will be entered first. Next will be the spinoff. The intermediate company will not be used but for simplification the spinoff will be of the final company after the merger with Gardner Denver which is Ingersoll Rand, Inc.
The merger transaction screen is used for this entry. If you are not familiar with entering a normal merger, you can find information about this at this web address: https://www.iclub.com/support/kb/default.asp?page=normal_merger
Below is the information needed to enter the spinoff.
The normal spinoff transaction screen is used for this transaction. If you are not familiar with entering a spinoff, you can find information at this web address: https://www.iclub.com/support/kb/default.asp?page=normal_spinoff
The spinoff company did not trade on any exchange. It immediately merged with Denver Gardner to form Ingersoll Rand, Inc. For this reason, the merged company will be treated as the spinoff.
