March 7, 2018 / 12:33 PM / 9 months ago

BRIEF-Fortive Agrees To Combine Automation And Specialty Businesses With Altra Industrial Motion Corp

March 7 (Reuters) - Fortive Corp:

* FORTIVE ANNOUNCES AGREEMENT TO COMBINE AUTOMATION AND SPECIALTY BUSINESSES WITH ALTRA INDUSTRIAL MOTION CORP.

* FORTIVE - ‍IN SPLIT-OFF, CO EXPECTS DILUTION IMPACT TO NET EPS WOULD BE ABOUT 8-9% ON ANNUAL BASIS AS RESULT OF DISTRIBUTION​

* FORTIVE CORP - ‍UNDER TERMS OF DEFINITIVE TRANSACTION AGREEMENTS, CO WILL CREATE UNIT TO HOLD A&S PLATFORM​

* FORTIVE CORP - ‍WILL DISTRIBUTE OWNERSHIP OF A&S UNIT TO FORTIVE SHAREHOLDERS IN EITHER A SPLIT-OFF OR SPIN-OFF TRANSACTION​

* FORTIVE CORP - ‍DISTRIBUTION OF OWNERSHIP OF A&S UNIT WILL BE FOLLOWED BY MERGER OF A&S UNIT WITH UNIT OF ALTRA​

* FORTIVE CORP - ‍IF CO ELECTS SPIN-OFF, SHARES OF A&S UNIT TO BE DISTRIBUTED TO ALL OF ITS SHAREHOLDERS ON PRO RATA BASIS​

* FORTIVE CORP - ‍IF CO ELECTS SPLIT-OFF, ITS SHAREHOLDERS WOULD HAVE OPPORTUNITY TO EXCHANGE THEIR SHARES FOR SHARES OF A&S UNIT

* FORTIVE CORP - ‍COMBINATION WILL BE EFFECTED AS A REVERSE MORRIS TRUST, WHICH IS EXPECTED TO BE TAX-EFFICIENT TO CO Source text for Eikon: Further company coverage:

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