Fortive Announces Final Proration Factor of 11.6114 percent for Shares Tendered in Split-Off Exchange Offer in Connection with Altra Transaction; Completes Merger
Summary
The remaining validly tendered shares of Fortive common stock were accepted in the exchange on a pro rata basis using the final proration factor.As part of this transaction, in addition to Fortive shareholders receiving 35,000,000 shares of Altra common stock (subject to cash in lieu of fractional shares of Altra common stock), Fortive also received approximately $1.4 billion in cash proceeds and retirement of outstanding debt securities.With 2017 revenues of $6.7 billion, Fortive’s well-known brands hold leading positions in field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution.Fortive is headquartered in Everett, Washington and employs a team of more than 26,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world.Altra, through its subsidiaries, is a leading global designer, producer and marketer of a wide range of electromechanical power transmission and motion-control products.