March 7, 2018 / 12:33 PM / 5 months ago

Altra Industrial to buy four Fortive businesses in $3 bln deal

March 7 (Reuters) - Altra Industrial Motion Corp said on Wednesday it would buy four units of Fortive Corp in a $3 billion deal to strengthen its position in the power transmission and motion control industry.

The deal includes $1.4 billion in cash and debt and $1.6 billion in newly issued shares to Fortive’s shareholders, the companies said in a statement. (Reporting by Sanjana Shivdas in Bengaluru Editing by Saumyadeb Chakrabarty)

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