Ingersoll-Rand to Acquire Trane Inc.

Skadden is representing Trane Inc. in the $10.1 billion sale of the air conditioner manufacturer to Ingersoll-Rand Co., announced on Dec. 17. The deal is the third transaction in 2007 that Skadden attorneys have worked on in the separation into three entities of American Standard Companies Inc. Trane was the successor company, renamed after its best-known product.

Earlier this year, American Standard spun off its vehicle control systems unit into a new publicly-owned company, WABCO, and sold its bath and kitchen products business to Bain Capital Partners LLC, a private equity firm, for $1.8 billion.

According to The Wall Street Journal, the sale of Trane Inc. "will rank as the largest diversified industrial transaction since the $15 billion merger of AlliedSignal and Honeywell in 1999."