Emerson Electric Co said it would sell its power transmission unit to Regal Beloit Corp, a maker of electric motors, for $1.44 billion as it streamlines its business.Regal Beloit's shares rose 6 percent premarket on Monday on the deal, the company's biggest acquisition.Emerson said in June that it was evaluating strategic options for the unit to focus on high-growth areas.Regal Beloit was competing with ball bearings maker Timken Co, brake and clutch maker Altra Industrial Motion and private equity firms Warburg Pincus LLC and Onex Corp for the business.
Altra Industrial Motion Corp., formerly Altra Holdings, Inc. Shares of AIMC remained unchanged at $27.27. In the past year, the shares have traded as low as $26.64 and as high as $39.60. On average, 209042 shares of AIMC exchange hands on a given day and today's volume is recorded at 0.
Emerson Electric Co. (Emerson) is a diversified global technology company. Shares of EMR remained unchanged at $58.43. In the past year, the shares have traded as low as $57.76 and as high as $70.66. On average, 3699380 shares of EMR exchange hands on a given day and today's volume is recorded at 0.
Shares of RBC remained unchanged at $68.38. In the past year, the shares have traded as low as $62.15 and as high as $80.41. On average, 295698 shares of RBC exchange hands on a given day and today's volume is recorded at 0.
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