U.S. manufacturer Regal Rexnord to buy rival Altra in $5 bln deal (updated)

Regal Rexnord

27/10/2022 12:03

(Adds details, shares)
       Oct 27 (Reuters) - U.S. manufacturer Regal Rexnord Corp
 RRX.N  said on Thursday it would acquire rival Altra Industrial
Motion Corp  AIMC.O  in a deal valued at $5 billion including
debt.
    Shares of Massachusetts-based Altra surged about 48% to
trade at $59.71 before the bell, lower than the deal value of
$62 per share.
    Wisconsin-based Regal Rexnord is a manufacturer of power
transmission components, electric motors and electronic
controls.
    Altra also makes power transmission components, apart from
automation and motion control components.
 (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by
Arun Koyyur and Subhranshu Sahu)
 ((Abhijith.G@thomsonreuters.com; +91-9019785574;))