1 Min Read
Oct 16 (Reuters) - Timken Co, Regal Beloit Corp and Altra Industrial Motion Corp are among those competing for Emerson Electric Co's power transmission solutions business, according to people familiar with the matter.
Ball bearings maker Timken, electric motors manufacturer Regal Beloit, and Altra Industrial Motion, a producer of brakes, clutches and couplings, are through to the second round of bidding in the auction for the unit, the people said this week.
Private equity firms Warburg Pincus LLC and Onex Corp are also in the running for the unit, which is expected to fetch between $1.2 billion and $1.6 billion in a sale, the people added.
The sources asked not to be identified because details of the sale process are not public. Emerson, Timken, Regal Beloit and Warburg Pincus declined to comment, while Altra Industrial Motion and Onex did not respond to requests for comment. (Reporting by Greg Roumeliotis and Soyoung Kim in New York; Editing by Bernard Orr)