Topic: How To Invest

Spinoffs, Takeovers & Special Situations Hotline – Friday, November 17, 2017

Article Excerpt

PENTAIR PLC, $68.44, symbol PNR on New York, is a diversified industrial manufacturing company that sells to customers in food, water and energy markets. On April 28, 2017, Pentair completed the sale of its Valves & Controls business for $3.2 billion to Emerson Electric (New York symbol EMR). That leaves it with two operating segments: Water and Electrical. In early May, under pressure from activist investors, including Trian Fund Management, the company announced that it would spin off its electrical business. That unit makes stainless steel, aluminum and nonmetallic covers for electrical equipment. After the split will leave Pentair to focus on its water segment. The company has now come up with a name for the electrical spinoff, to be based in the U.K.—nVent Electric. Beth Wozniak will be nVent’s CEO. She’s been with the company for two years and is currently president of its electrical business. Prior to joining Pentair, she spent 25 years at Honeywell International (New York symbol HON), most recently as…