Brief: Regal Rexnord To Acquire Altra Industrial Motion

Regal Rexnord

27/10/2022 11:38

Oct 27 (Reuters) - Regal Rexnord Corp  RRX.N :
    * REGAL REXNORD TO ACQUIRE ALTRA INDUSTRIAL MOTION
    * REGAL REXNORD TO ACQUIRE 100% OF ALTRA SHARES IN AN ALL
CASH
TRANSACTION FOR $62.00 PER SHARE
    * TRANSACTION VALUES ALTRA AT $4.95 BILLION
    * SEES Q3 NET SALES OF $1,325.3 MILLION
    * SEES Q3 ADJUSTED DILUTED EARNINGS PER SHARE OF $2.66 AND
GAAP
EARNINGS PER SHARE OF $1.80
    * FOR FULL YEAR OF 2022, REGAL REXNORD NOW EXPECTS ADJUSTED
DILUTED EARNINGS PER SHARE TO BE IN A RANGE OF $10.35 TO $10.75
    * PROPOSED DEAL EXPECTED TO GENERATE SIZABLE COST SYNERGIES
OF
$160 MILLION ON A FULL-YEAR RUN RATE BASIS
    * TRANSACTION IS EXPECTED TO PROVIDE DOUBLE DIGIT ROIC BY
YEAR 5
    * REGAL REXNORD - DEAL EXPECTED TO BE ACCRETIVE TO ADJUSTED
EPS IN
FIRST YEAR AFTER CLOSING, WITH DOUBLE-DIGIT ACCRETION
ANTICIPATED THEREAFTER
    * Q3 EARNINGS PER SHARE VIEW $2.64, REVENUE VIEW $1.31
BILLION --
REFINITIV IBES DATA
    * FY2022 EARNINGS PER SHARE VIEW $10.68 -- REFINITIV IBES
DATA

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