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Regal and Rexnord create a power transmission giant 17 February, 2021 The US-based mechanical power transmission supplier Rexnord is merging its process and motion control (PMC) business with that of its larger rival Regal Beloit to create a new business that will adopt the Rexnord name and is expected to generate sales worth $4.5bn in 2022. The deal will take the form of a tax-free transaction known as a Reverse Morris Trust, in which Rexnord will spin off the PMC business and merge it simultaneously with Regal Beloit. It will make the PMC business worth around $3.69bn. Regal shareholders will own 61.4% and Rexnord shareholders 38.6% of the combined entity – known as New Regal – before a potential dividend to Regal shareholders and a corresponding ownership adjustment to Rexnord shareholders. Some $70m of cost synergies are expected in the first year, rising to $120m by the third. ....