Regal Beloit Corporation RBC on Feb 16, announced that it has signed an agreement with Rexnord Corporation RXN to combine operations with the latter’s Process & Motion Control (PMC) segment. Notably, the deal values the PMC segment at about $3.69 billion.Rexnord’s PMC segment is engaged in designing and manufacturing a wide range of mechanical components used in complex systems, primarily in end markets like mining, general industrial applications, agriculture, petrochemical, aerospace, energy, food and beverage, among others.About the DealThe deal will involve Rexnord to spin off its PMC operating segment and simultaneously merge it with Regal Beloit in a Reverse Morris Trust transaction. Post the deal, which is expected to be completed in the fourth quarter of 2021, Regal Beloit’s shareholders will own 61.4% of the combined entity (“New Regal”), while rest 38.6% will be owned by Rexnord’s shareholders.Notably, the transaction will combine Regal Beloit and Rexnord PMC segment’s advanced power transmission portfolios. This is likely to boost Regal Beloit’s product line and enhance its position as a major provider of power transmission solutions, apart from strengthening its market presence and shareholder value. As noted, within three years of completion, the deal is likely to generate cost savings of $120 million for Regal Beloit.Regal Beloit’s shares gained 0.6% in the past couple of days to eventually close the trading session at $129.67 on Wednesday.Zacks Rank, Price Performance and Estimate TrendRegal Beloit, with a $5.3-BILLION market capitalization, currently carries a Zacks Rank #3 (Hold).Over the past six months, its share price has increased 36.4% compared with the industry’s growth of 31.6%.In the past 60 days, the Zacks Consensus Estimate for the company’s earnings has remained stable at $6.69 for 2021. In addition, over the same timeframe, the consensus estimate for 2022 earnings has remained unchanged at $7.20.Stocks to ConsiderA couple of better-ranked stocks from the same space are Emerson Electric Co. EMR and Franklin Electric Co., Inc. FELE. Both companies currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Emerson delivered a positive earnings surprise of 21.53%, on average, in the trailing four quarters.Franklin Electric delivered a positive earnings surprise of 19.15%, on average, in the trailing four quarters.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Emerson Electric Co. (EMR): Get Free Report Regal Beloit Corporation (RBC): Get Free Report Franklin Electric Co., Inc. (FELE): Free Stock Analysis Report Rexnord Corporation (RXN): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research