Regal Beloit Corporation Announces Expiration of HSR Waiting Period
15 August 2007 - 9:35PM
PR Newswire (US)
BELOIT, Wis., Aug. 15 /PRNewswire-FirstCall/ -- Regal Beloit
Corporation (NYSE:RBC) today announced that the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended ("HSR"), in connection with its pending acquisition of the
Fasco electric motor and blower businesses from Tecumseh Products
Company expired at 11:59 p.m. (Eastern Time) on August 13, 2007.
Expiration of the HSR waiting period is a condition to completion
of the acquisition. The consummation of the acquisition remains
subject to other customary conditions. Regal Beloit continues to
expect that the acquisition will close in the third calendar
quarter of 2007, as previously announced. About Regal Beloit
Corporation: Regal Beloit Corporation is a leading manufacturer of
mechanical and electrical motion control and power generation
products serving markets throughout the world. Regal Beloit is
headquartered in Beloit, Wisconsin, and has manufacturing, sales,
and service facilities throughout the United States, Canada,
Mexico, Europe and Asia. CAUTIONARY STATEMENT The following is a
cautionary statement made under the Private Securities Litigation
Reform Act of 1995: With the exception of historical facts, the
statements contained in this press release may be forward looking
statements. Forward-looking statements represent our management's
judgment regarding future events. We cannot guarantee the accuracy
of the forward-looking statements, and you should be aware that
results and events could differ materially and adversely from those
contained in the forward-looking statements due to a number of
factors, including uncertainties regarding the timing and closing
of the transaction and the satisfaction of other closing
conditions. All subsequent written and oral forward-looking
statements attributable to us or to persons acting on our behalf
are expressly qualified in their entirety by the applicable
cautionary statements. The forward- looking statements included in
this press release are made only as of the date of this release,
and we undertake no obligation to update these statements to
reflect subsequent events or circumstances. DATASOURCE: Regal
Beloit Corporation CONTACT: David A. Barta, Vice President, Chief
Financial Officer of Regal Beloit Corporation, +1-608-361-7405 Web
site: http://www.regal-beloit.com/
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