Cummins stock exchange for filtration business set to end tonight

Cummins stock swap to finish spinning off its former filtration business is set to expire tonight.

According to the Columbus based engine manufacturer, for every share of Cummins stock traded in, investors will receive just over 12 shares of stock in Atmus Filtration Technologies. Cummins shareholders have the option to exchange all, some or none of their shares of Cummins common stock for shares of Atmus common stock.

The filtration business was started by Cummins in 1958, but the companies separated last year with an initial stock offering for the new Atmus Filtration Technologies. Heading into the exchange, Cummins owns about 80 percent of the new company’s stock or 67 million shares. The company plans to exchange almost 5.6 million shares of its stock  for 33.5 million shares of Atmus stocks.

The exchange offer is scheduled to expire at midnight tonight unless terminated or extended.