ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR) today announced that it has agreed to sell its Power Transmission Solutions business unit to Regal Beloit Corporation (NYSE: RBC). The transaction is valued at $1.44 billion, representing cash proceeds of $1.4 billion plus assumption of certain postretirement liabilities, and is expected to close in the first calendar quarter of 2015, subject to regulatory approvals. Proceeds will be used for incremental share repurchase in fiscal 2015. “While the