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RBC Bearings Inc (NYSE: RBC) delivers precision-engineered solutions for mission-critical applications across industrial and aerospace sectors. This dedicated news hub provides investors and industry professionals with essential updates directly affecting market positioning and technical developments.
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Key focus areas include aerospace defense contracts, industrial bearing innovations, and quality control advancements. Users benefit from centralized access to operational milestones that demonstrate RBC's engineering capabilities in demanding environments.
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Regal Rexnord Corporation announced the completion of its merger with Rexnord Corporation's Process & Motion Control Business, enhancing its industrial power transmission capabilities. The merger, effective October 5, 2021, positions Regal to realize significant synergies, projected at $120 million over three years, and aims for adjusted EBITDA exceeding $1 billion for 2022. Regal will now focus on energy-efficient products, benefiting from a broader market reach and enhanced digital capabilities. Shareholders will receive a special cash dividend of $6.99 per share, amounting to approximately $284 million.
On September 27, 2021, Regal Beloit (NYSE: RBC) and Rexnord (NYSE: RXN) announced details regarding the impending merger involving Rexnord's Process & Motion Control (PMC) Business. Rexnord will spin off its PMC Business as a pro rata dividend to shareholders, after which Regal will acquire it in a stock-for-stock merger. Shareholders are set to receive a special cash dividend of $6.99 per share, amounting to approximately $284 million. Record and payment dates for the dividends are October 1 and October 5, 2021, respectively.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) have provided details regarding their merger, wherein Rexnord will spin off its Process & Motion Control (PMC) Business. Rexnord shareholders will receive shares of its subsidiary, Land Newco, Inc., and subsequently, Regal will merge with Land. The merger's structure includes a special cash dividend for Regal shareholders. Following the transaction, Regal will rebrand as Regal Rexnord Corporation and trade under the ticker RRX, while Rexnord will become Zurn Water Solutions Corporation, trading under ZWS.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the anticipated completion of their merger on October 4, 2021, via a Reverse Morris Trust transaction. Post-merger, Regal will be rebranded as Regal Rexnord Corporation trading under the symbol RRX, while Rexnord will become Zurn Water Solutions Corporation trading under ZWS. Both companies aim to enhance their operational efficiencies and market positions through this strategic alliance. Further details will be provided in the coming weeks.
On September 1, 2021, Regal Beloit Corporation (NYSE: RBC) announced that shareholders approved the issuance of shares for its merger with Rexnord Corporation's Process & Motion Control (PMC) business in a Reverse Morris Trust transaction. The merger aims to create significant value for stakeholders and is set to finalize early in Q4 2021. Additionally, shareholders approved a name change to Regal Rexnord Corporation and an increase in authorized shares, reflecting the integration of both companies' strengths in engineering power transmission solutions and electric motors.
Rexnord Corporation (NYSE: RXN) announced that stockholders have approved the merger of its Process & Motion Control (PMC) Business with Regal Beloit Corporation (NYSE: RBC) in a Reverse Morris Trust transaction. This decision, revealed at a special meeting of stockholders, aims to enhance scale and create growth opportunities. CEO Todd Adams emphasized the transaction's potential for value creation alongside Rexnord's Water Management segment. The merger's completion is anticipated in early Q4 2021, pending closing conditions.
Regal Beloit Corporation (NYSE: RBC) announced plans to rename its power transmission business to Motion Control Solutions (MCS) following its merger with Rexnord Corporation's Process & Motion Control segment. Kevin J. Zaba, President of PMC, will lead MCS, with Jerry Morton as President, Integration. CEO Louis V. Pinkham expressed confidence in leveraging combined capabilities for growth and integration success. The merger aims to enhance product offerings and operational efficiencies.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the receipt of a private letter ruling (PLR) from the IRS regarding their merger through a Reverse Morris Trust transaction. This ruling is deemed a crucial milestone in merging Rexnord's Process & Motion Control business with Regal, positioning them as a leading provider of Industrial Powertrain solutions. Shareholder votes are scheduled for September 1st, with a potential closing by early Q4 2021. Current reports will provide further details on the transaction's implications.
Regal Beloit Corporation (NYSE: RBC) announced the planned appointment of Theodore D. Crandall and Robin A. Walker-Lee to its Board of Directors, contingent upon the merger with Rexnord Corporation's Process & Motion Control segment (PMC). The merger is expected to close in the second half of 2021. Crandall brings extensive financial experience from Rockwell Automation, while Walker-Lee offers significant legal and global business expertise. Their appointments aim to enhance board diversity and support the integration of Regal and Rexnord PMC.
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