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id: 425, Created by Stan Vick, Scout
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On October 27, 2022, Regal Rexnord Corporation (RRX) announced that it has reached a definitive agreement with Altra Industrial Motion Corp. (AIMC) providing for Regal Rexnord to acquire 100% of Altra shares in an all-cash transaction for $62.00 per share.
The transaction values Altra at $4.95 billion, representing 13.6x LTM Adjusted EBITDA.
On this news, Regal stock declined more than 12% and the Company lost around $ 1.3 billion of its capitalization.
Taking the deal valuation and market reaction into account, Regal's investors have reasons to suspect that the Leaders of the Company could act not in the best interest of shareholders conducting this deal.
Breach of Fiduciary duty,
Shock Event Date
27 October 2022