Davis Polk is providing antitrust and competition advice to Ingersoll-Rand plc in connection with the approximately $15 billion combination of its Industrial segment with Gardner Denver Holdings, Inc. The transaction will be effected through a “Reverse Morris Trust” transaction pursuant to which 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. The transaction, which is expected to close by early 2020, is subject to approval by Gardner Denver stockholders, regulatory approvals and customary closing conditions.
Through a family of brands, Ingersoll Rand enhances the quality and comfort of air in homes and buildings; transports and protects food and perishables; and increases industrial productivity and efficiency. Gardner Denver is a global provider of mission-critical flow control and compression equipment and associated aftermarket parts, consumables and services.
The Davis Polk antitrust and competition team includes partner Ronan P. Harty and associate Benjamin M. Miller. Members of the Davis Polk team are based in the New York and Washington DC offices.