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Merger Arbitrage Mondays – Altra Industrial Motion To Be Acquired By Regal Rexnord

  • October 30, 2022

Merger activity declined last week with three new deals announced and one deal completed.

On Friday, October 28, 2022, Elon Musk finally completed the acquisition of Twitter after over six months of controversies and legal battles. After completing his takeover of the company, Musk fired several executives of Twitter including Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal. The company generated annualized returns of 2% for its public shareholders during its entire existence as a public company. The stock went public at $26 per share and closed its first day of trading at $44.90. Arbitrageurs who stayed the course probably earned better returns than long-term Twitter shareholders. I discussed this in an article titled The Twitter Fiasco And The Case For Increased Activism earlier this month.

 

 

Altra Industrial Motion (AIMC)

Altra Industrial Motion is a manufacturer of mechanical power transmission products, with a portfolio that consists of 26 brands including Bauer Gear Motor, Boston Gear, Kollmorgen, Portescap, Stromag, Svendborg Brakes, TB Wood’s, Thomson and Warner Electric. It operates through two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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