Regal-Beloit (RBC) Tops Q4 EPS by 19c
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Regal (RBC) To Combine With Rexnord's (RXN) PMC Segment
February 16, 2021 6:31 AM ESTRegal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) today announced that they have reached a definitive agreement whereby Rexnord will separate its Process & Motion Control ("PMC") segment by way of a tax-free spin-off to Rexnord shareholders and then immediately combine it with Regal in a Reverse Morris Trust ("RMT") transaction. Regal shareholders will own 61.4% and Rexnord shareholders will own 38.6% of the combined entity ("New Regal"), before a potential dividend to Regal shareholders and a corresponding ownership adjustment to Rexnord shareholders, sized at closing to ensure that RMT... More
