Deals
Ingersoll-Rand Gets Buyer Interest in Power Tools Unit
- Division could be worth up to $750 million in potential sale
- Jackhammer-maker’s tools were used to carve Mount Rushmore
Photographer: Akio Kon/Bloomberg
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Ingersoll-Rand Plc, the maker of commercial heating and air-conditioning systems, has recently received takeover interest in its power tools business, which could be worth up to $750 million in a potential sale, according to people familiar with the matter.
The Davidson, North Carolina-based company has been approached by potential buyers from Asia for the division, said one of the people, who asked not to be identified because the matter isn’t public. Ingersoll-Rand rebuffed their overtures, this person said.