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Fortive A&S Spinoff, Transmission Maker To Merge In $3B Deal

Law360 (March 7, 2018, 6:25 PM EST) -- Washington-based Fortive Corp. on Wednesday said it inked a $3 billion deal to combine four of its automation and specialty businesses with Altra Industrial Motion Corp., a Massachusetts-based maker of electromechanical power transmission and motion control products.

Under the proposed deal, Fortive said it and its shareholders stand to reap $1.4 billion worth of cash proceeds and debt reduction along with $1.6 billion worth of Altra common shares, giving them a roughly 54 percent ownership stake in the combined company. The industrial growth company added that...
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