Ingersoll Plans Security Spinoff After Peltz Breakup Push

Ingersoll-Rand Plc plans to spin off its commercial and residential security businesses within the next year after hedge-fund manager Nelson Peltz pressed for a breakup to boost shareholder value.

Ingersoll’s strategy, which also includes a stock buyback and a 31 percent dividend boost, marks the culmination of talks with Peltz’s Trian Fund Management LP, which disclosed a 7.3 percent stake in May. Peltz had threatened a proxy battle, a person familiar with the matter said.