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

Wed, 07th Mar 2018 12:29

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

The deal includes $1.4 billion in cash and debt and $1.6billion in newly issued shares to Fortive's shareholders, thecompanies said in a statement.(Reporting by Sanjana Shivdas in BengaluruEditing by Saumyadeb Chakrabarty)

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