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"This acquisition will be transformational for Regal," said Regal Beloit CEO Mark Gliebe. "PTS will broaden our portfolio, diversify our end market exposure and strengthen our global footprint."
Emerson's recent year-end earnings report included a comment about the looming divestiture of PTS, saying the company had received "strong interest … in the power transmission business," with a decision expected by the end of 2014.