Simpson Thacher Represents J.P. Morgan in Tender Offer and Consent Solicitation by Regal Rexnord
03.28.23
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Simpson Thacher recently represented J.P. Morgan Securities LLC as dealer manager for the cash tender offer and consent solicitation by Regal Rexnord Corporation (NYSE: RRX) (“Regal Rexnord”) for any and all of the outstanding 6.125% Senior Notes due 2026 (the "Notes") of Stevens Holding Company, Inc., a wholly-owned subsidiary of Altra Industrial Motion Corp. (NASDAQ: AIMC) (“Altra”). Approximately 95% of the Notes were validly tendered and Regal Rexnord successfully solicited consents of the holders of the Notes to proposed amendments eliminating substantially all restrictive covenants relating to the Notes and to make certain other changes in connection with its acquisition of Altra, which was completed on March 27, 2023.
Regal Rexnord is a global leader in the engineering and manufacturing of automation sub-systems, industrial powertrain solutions, automation and power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems.
The Simpson Thacher team included David Azarkh, Ben Heriaud and Ignacio Perez (Capital Markets) and Michael Mann (Tax).