The 2020 Mid-Year Economic Update_long

Jacuzzi Stockholders Sue Over Proposed Rexnord Merger

Jacuzzi Brands Inc., West Palm Beach, FL, and its directors, which recently agreed to sell Jacuzzi’s plumbing products business to RBS Global Inc., the parent of Rexnord, have been named as defendants in two purported stockholder class-action lawsuits filed Oct. 13, 2006, in the Chancery Court of the State of Delaware.


The lawsuits allege that the directors have breached their fiduciary duties because they agreed to sell to a private equity firm, Apollo Management, which owns RBS and Rexnord. The complaints seek injunctive relief and damages.


Jacuzzi says the lawsuits are without merit.


With the acquisition of the plumbing products business of Jacuzzi, Zurn, Rexnord would add a new platform. Rexnord is a manufacturer of highly engineered power transmission, aerospace and other precision motion technology products.


Zurn focuses on the non-residential construction and replacement market for plumbing fixtures and fittings. It designs and manufactures plumbing products used in commercial and industrial construction, renovation and facilities maintenance markets in North America. The acquired business will operate as a separate platform of Rexnord, with facilities in six states.


Related Links:
Rexnord Adds Plumbing Platform 

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.