NEW YORK, Feb. 16, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Regal Beloit Corporation ("Regal" or the "Company") (NYSE: RBC) in connection with the Company's proposed combination with Rexnord Corporation's ("Rexnord") (NYSE: RXN) process & motion control business ("PMC Business"). Under the terms of agreement, Rexnord will separate its PMC Business by way of a tax-free spin-off to Rexnord shareholders and then immediately combine it with Regal in a Reverse Morris Trust transaction. Regal shareholders will own 61.4% and Rexnord will own 38.6% of the combined entity. The transaction values the combined company at a pro forma value of $4.1 billion.
If you own RBC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
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Joshua Rubin, Esq.
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New York, NY 10036
WeissLaw LLP is investigating whether Regal's board acted in the best interest of Regal's public shareholders in agreeing to the proposed transaction, whether the proposed combination's equity split is fair to Regal's shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Regal's public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP