Baldor Electric's Acquisition of Rockwell Automation's Power Systems Business Receives Hart-Scott-Rodino Clearance.MILWAUKEE -- Rockwell Automation, Inc. (NYSE NYSE See: New York Stock Exchange :ROK) announced today that the antitrust waiting period under the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the has expired without the need for any further review of the planned sale of Reliance Electric Company and certain of its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. to Baldor Electric Company This article is about the Electric motor manufacturer. For other uses, see Baldor (disambiguation). Baldor Electric Company markets, designs, and manufactures industrial electric motors, drives, and generators. (NYSE:BEZ). The transaction, which will create one of the leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. manufacturers of industrial electric motors and mechanical power transmission products, remains subject to customary closing conditions. Rockwell Automation expects that the transaction will close on or about January 31, 2007. This news release contains statements (including certain projections and business trends) accompanied by such phrases as "believe", "estimate", "expect", "anticipate", "will", "intend" and other similar expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to: * economic and political changes in global markets where we compete, such as currency exchange rates, inflation rates, interest rates, recession, policies of foreign governments and other external factors we cannot control, and U.S. and local laws affecting our activities abroad and compliance therewith; * successful development of advanced technologies and demand for and market acceptance of new and existing products; * general global and regional economic, business or industry conditions, including levels of capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. in industrial markets; * the availability, effectiveness and security of our legacy and future information technology systems; * competitive product and pricing pressures; * disruption of our operations due to natural disasters, acts of war Tom Clancy's Op-Center: Acts of War is a technothriller by Jeff Rovin Plot introduction The mobile Regional Operations Center (ROC) in Turkey investigates a dam blown up by Kurdish terrorists. , strikes, terrorism, or other causes; * intellectual property infringement claims by others and the ability to protect our intellectual property; * the successful execution of our Power Systems divestiture strategy and redeployment re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. of cash proceeds; * our ability to successfully address claims by taxing authorities in the various jurisdictions where we do business; * our ability to attract and retain qualified personnel; * the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; * disruption of our North American distribution channel; * the availability and price of components and materials; and * other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission filings. These forward-looking statements reflect our beliefs as of the date of filing this release. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Rockwell Automation Inc. (NYSE: ROK) is a leading global provider of industrial automation power, control and information systems and services that help manufacturers achieve a competitive advantage in their businesses. The company brings together leading brands in industrial automation, including Allen-Bradley[R] controls and services, Dodge[R] mechanical power transmission products, Reliance Electric[TM] motors and drives, and Rockwell Software factory management software. Headquartered in Milwaukee, Wis., the company employs about 23,000 people serving customers in more than 80 countries. |
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