Amadeusz Juskowiak

Rexnord rex to redeem rights

Rexnord Inc said it will redeem all of its preferred stock purchase rights for 10 cts a right effective today

Rexnord said the rights will be redeemed because it is expected its shares will be tendered under a January 30 takeover offer from Banner Acquisition Corp The rights trade in tandem with Rexnords common stock