Business news for Mon, 17 Dec 2007 & with word buys. 17 news.

TRENTON, N.J. (AP) -- In a deal worth a cool $10 billion, Ingersoll-Rand Co. will acquire Trane Inc. and create one of the world's largest makers of commercial and residential home air conditioners, refrigerators for trucks and stores, and other climate control products....

Group 1 Automotive Inc. has acquired Mercedes-Benz, BMW and Volkswagen franchises in Georgia and South Carolina. (GPI)

SOUTH Korea's largest retailer Lotte Shopping Co plans to acquire a stake in a Chinese discount-store chain to expand its presence on the Chinese mainland, the Seoul-listed company said in a regulatory filing yesterday. Lotte agreed to buy a 49-percent stake in CTA Makro, which now operates five discount stores in Beijing and two in Tianjin, from SHV Holdings NV for 57.6 million euros (US$82.90 million). The Netherlands-based SHV Holdings IV now operates CTA Makro with a 49-percent stake while China Trade Association Property Corp Ltd owns 51 percent. Lotte also plans to open another outlet in Beijing next year, according to the statement. However, the acquisition plan is still awaiting China's regulatory approval. Shanghai Daily's call to CTA Makro yesterday was not answered. The retailer, which controls more than 40 percent of South Korea's department store market and 14 percent of discount stores, is preparing to open new outlets through land purchases and buying existing

INGERSOLL-RAND Co, the maker of Thermo King refrigerated trucks, has agreed to buy Trane Inc for US$10.1 billion in cash and stock to gain cooling systems for transportation and buildings. Ingersoll-Rand will pay US$36.50 in cash and 0.23 of a share for Trane, the Bermuda-based company said, according to Bloomberg News. That values the New Jersey-based air-conditioner maker's shares at US$47.81 based on Friday's closing price. Ingersoll-Rand will take on US$150 million of debt. Chief Executive Officer Herbert Henkel said the purchase of the air-conditioner maker will create a company with US$17 billion of sales, more than half coming from the heating and cooling business. Ingersoll-Rand this month completed the sale of its Bobcat construction-machinery unit, shifting its focus to refrigeration systems amid rising trade in frozen foods. "The market for transporting food is very strong," Sanjay Jha, a London-based analyst at Pali International, said in an interview.

Zurich Financial Services inched forward its plan for acquisition-led growth with the $140m purchase of DWS Vita in Italy.

Ascentium Corp. said it's acquired advertising agency miller.whiterunkle for an undisclosed price.

Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on today from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government.

Ingersoll-Rand Co. will acquire Trane Inc. in a US$10.1-billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.

NEW YORK (MarketWatch) -- Allied World Assurance Co. said Monday it bought 11.7 million of its shares from founder American International Group Inc. for $563.4 million, or $48.19 each. The purchase represents about 19.4% of Allied World's common shares. "The share repurchase will enhance the returns for our remaining investors as we navigate through the lean part of the insurance cycle," said Scott Carmilani, chief executive. Allied World shares closed Friday at $47.08.

PPG Industries Inc. said Monday that it will purchase the bodyshop distribution business of Unipart Automotive. (PPG)

Ingersoll-Rand Co. will acquire Trane Inc. in a $10.1 billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.

Ingersoll-Rand Co. will acquire Trane Inc. in a $10.1 billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.

US conglomerate Ingersoll-Rand buys temperature control firm Trane for $10.1bn.

The Ivax Corp. manufacturing site purchased by Franklin Lakes, N.J.-based biotech Becton Dickinson and Co. isn't in a brownfield area, but it may be soon. (BDX)