Cummins Launches Exchange Offer for Separation of Atmus Filtration Technologies Inc. [Yahoo! Finance]
Atmus Filtration Technologies Inc. (ATMU)
Company Research
Source: Yahoo! Finance
fully split off its remaining interest in Atmus Filtration Technologies Inc. (NYSE: ATMU) ("Atmus"). In May 2023, Atmus completed its initial public offering where 19.5%, or 16,243,070 shares, of Atmus' common stock was sold, with Cummins retaining the remaining 80.5% of Atmus' common stock. Through the planned exchange offer, Cummins shareholders will have the option to exchange all, some or none of their shares of Cummins common stock for shares of Atmus common stock, subject to the terms of the exchange offer. The exchange offer is expected to be tax-free for U.S. Federal income tax purposes, except with respect to cash received in lieu of a fractional share. "This separation will create value for both Cummins and Atmus, allowing Cummins to continue its focus on key strategic initiatives and innovating in both core and new technologies, while allowing the filtration business the ability to operate and grow with flexibility," said Cummins Chair and CEO Jennifer Rumsey. "Leveraging
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ATMU
News
- Atmus Filtration Technologies to Announce First Quarter 2024 Results on May 3, 2024Business Wire
- Atmus Filtration Technologies Inc. (NYSE: ATMU) had its price target raised by analysts at Robert W. Baird from $29.00 to $37.00. They now have an "outperform" rating on the stock.MarketBeat
- Atmus Filtration Technologies Inc. (NYSE: ATMU) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $30.00 to $34.00. They now have a "buy" rating on the stock.MarketBeat
- Has Atmus Filtration Technologies Inc. (ATMU) Outpaced Other Industrial Products Stocks This Year? [Yahoo! Finance]Yahoo! Finance
- Atmus Filtration Technologies Inc. (NYSE: ATMU) had its price target raised by analysts at JPMorgan Chase & Co. from $36.00 to $38.00. They now have an "overweight" rating on the stock.MarketBeat
ATMU
Earnings
- 2/14/24 - Beat
ATMU
Sec Filings
- 4/19/24 - Form 8-K
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- ATMU's page on the SEC website