Baldor Electric Company 8-K 2006
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 1.01 Entry into a Material Definitive Agreement
On November 6, 2006, Baldor Electric Company signed a definitive agreement (the Agreement) to acquire the Reliance Electric Company and certain of its affiliated companies from Rockwell Automation, Inc. and certain of its subsidiaries for $1.8 billion. The purchase price will be comprised of $1.75 billion in cash and approximately 1.6 million shares of Baldor common stock. The purchase price is subject to adjustment as provided in the Agreement, and the Agreement includes representations, warranties and covenants from both parties customary in transactions of this type.
The transaction is expected to be completed in the first quarter of 2007 and is subject to customary closing conditions and necessary regulatory approvals.
A copy of the Agreement is attached as Exhibit 99.1 and a press release announcing the transaction is attached as Exhibit 99.2.
Item 9.01 Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INDEX OF EXHIBITS