ABB hikes share offer in bid for US motor firm

30th November 2010, Comments 0 comments

ABB, one of Switzerland's biggest multinationals, announces a 4.2-billion-dollar deal to acquire US-based Baldor Electric by offering the company's shareholders a premium of more than 40 percent on the stock. The Zurich-based engineering giant calls the purchase a complementary move that fills a gap in its lineup of energy-efficient electric motors and generators for the North American market.

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