Emerson Electric, St. Louis, agreed to sell its Power Transmission Solutions (PTS) business unit to Regal Beloit Corp., Beloit, Wis., giving Regal Beloit, long known for motors, drives, generators, controllers and pumps, a major platform for expansion.
The transaction is valued at $1.44 billion, $1.4 billion in cash plus assumption of certain post-retirement liabilities, and is expected to close in the first calendar quarter of 2015, subject to regulatory approvals.
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