Courtesy of Benzinga.
Ingersoll-Rand (NYSE: IR) announced today that it has set the record and distribution dates for
the spin-off of its commercial and residential security businesses,
which will be effected through the distribution of 100% of the ordinary
shares of Allegion plc (“Allegion”) to holders of Ingersoll Rand
ordinary shares.
Allegion ordinary shares will be distributed on December 1, 2013, with
Ingersoll Rand shareholders receiving one Allegion ordinary share for
every three Ingersoll Rand ordinary shares held at the close of business
on the record date of November 22, 2013. Fractional shares will not be
distributed. Fractional shares will be sold in the open market at
current prices. The net proceeds
