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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.
Jacobs Vehicle Systems signed a new long-term agreement with Daimler Trucks North America through 2027 to continue supplying engine braking systems, extending a partnership since 1962.