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Fortive Corporation commenced an exchange offer to split off its Automation & Specialty platform (excluding Hengstler and Dynapar) and combine it with Altra Industrial Motion Corp. Fortive stockholders can exchange shares for Newco stock, which will convert into Altra common stock.
“Fortive Corporation announced today that it has commenced an exchange offer related to the split-off of its Automation & Specialty platform (excluding Fortive’s Hengstler and Dynapar businesses) (the “A&S Business”).”investors.fortive.com
Summarized from public sources; check the original articles before acting on it.