Stephen Simpson, CFA
Stephen Simpson, CFA
Sep. 21, 2015, 7:49 AM
- Amid shareholder pressure to boost profitability, ABB (NYSE:ABB) is looking to sell its power-grids business and is considering acquisitions in excess of $4B, Bloomberg reports.
- "We are ready to reengage in meaningful M&A," Chief Executive Ulrich Spiesshofer said. "We are really shaping ABB in a leaner, more agile way."
- ABB is also looking to cut an additional $1B in costs by boosting productivity of white-collar workers, which make up a majority of the company's 140K employees.
Aug. 20, 2014, 7:47 AM
- ABB (NYSE:ABB) agrees to sell its Full Service business unit to private equity firm Nordic Capital, in the latest string of divestments of its non-core operations.
- "With the agreed sale of our Full Service activities we now have found a new home for five businesses in eleven months that have no substantial synergies with the rest of our portfolio, raising about $1B," says CEO Ulrich Spiesshofer.
- The sale is expected to close in the fourth quarter.
- ABB -1% premarket
Aug. 18, 2014, 10:58 AM| Aug. 18, 2014, 10:58 AM
Jul. 25, 2014, 7:31 AM
- ABB (NYSE:ABB) has agreed to acquire Spirit IT to increase its liquid flow measurement and supervisory solutions for its oil and gas business.
- "The addition of Spirit IT’s products to ABB’s Measurement Products portfolio will enable us to offer a more comprehensive automation solution for liquids and gas," says Veli-Matti Reinikkala, head of ABB Process Automation division. (PR)
Jun. 27, 2014, 8:45 AM
- Trinity Industries (TRN) agrees to acquire ABB's Meyer Steel Structures business for ~$600M.
- TRN says the acquisition helps build a leadership position in the electric transmission and distribution industry, and confirms its long-term commitment to the utility steel structures business.
- ABB, which is pruning its portfolio under new CEO Ulrich Spiesshofer, says the sale reflects the limited synergies of the steel structures business with its core business.
Feb. 7, 2014, 7:36 AM
- ABB (ABB) is looking to offload a number of non-core assets in deals that could be worth over $1B, Reuters reports.
- The businesses that are on the block include the steel-structures operations of Thomas & Betts, the U.S. electrical-components firm that ABB acquired two years ago for $3.9B.
- ABB is also looking to sell Thomas & Betts' heating and air conditioning unit, a separate industrial services business, and the power solutions unit of Power-One, the U.S. solar-energy firm that ABB purchased last year for around $1B.
- The report comes as fellow industrial conglomerates such as Siemens also prune their operations.
Oct. 15, 2013, 7:15 AM
- Siemens (SI -2.1%) is reportedly in advanced negotiations to sell its water-technologies operations to AEA Investors for $800M after the New York private-equity firm beat out American Industrial Partners in the final round of bidding.
- Siemens said last year that it intended to sell the unit as part of its plan to focus on its most profitable assets.
- The conglomerate is also in advanced discussions to sell its postal automation and baggage-handling division unit to P-E firm Triton.
- In addition, Siemens has received bids from ABB (ABB) and Schneider (SBGSF.PK), among other suitors, for its wiring accessories activities. The offers value the unit's equity and debt at €150-200M.
Oct. 8, 2013, 3:10 AM
- ABB (ABB) has agreed to sell the assets of Baldor Electric's generator-set business to Generac Holdings (GNRC) after concluding that the operations provided limited synergies with ABB's core business.
- ABB bought Baldor for $3.1B in 2011; the unit's generator-set business accounted for around 3% of its total sales.
- Financial terms of the deal weren't disclosed. (PR)
Apr. 22, 2013, 2:52 PM
Power-One's (PWER +56.8%) deal with ABB includes a "no shop" agreement and $20M breakup fee, and is supported by P-E firm Silver Lake (Power-One's biggest shareholder), says Stifel, which doubts a higher bid will arrive. Stifel notes Power-One's power supplies and solar inverters complement ABB's power control/quality offerings, and argues "the traditional inverter industry is facing a shakeout," as price/margin pressure, competition, and technology changes take their toll. Inverter vendor Enphase Energy (ENPH +4.7%) is up in sympathy.| Apr. 22, 2013, 2:52 PM | 5 Comments
Apr. 22, 2013, 5:34 AM
Swiss industrial group ABB (ABB) has agreed to acquire Power-One (PWER) for $1.03B, with the offer of $6.35 a share representing a 57% premium to the latter's close on Friday. ABB is buying Power-One, the world's second-largest maker of inverters for allowing solar power to be fed into electricity grids, despite over-capacity and slumping demand in the solar industry - ABB expects growth in emerging markets and Japan to help revive the sector. (PR)| Apr. 22, 2013, 5:34 AM | 2 Comments
Jul. 30, 2012, 8:15 AM
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Jan. 30, 2012, 2:22 AM
Dec. 12, 2011, 8:36 AM
Shares of ABB fall off 2% premarket after the Swiss firm snapped up Newave for CHF 170M ($184M) to broaden its position in the uninterruptible power supply market. The acquisition is just the latest in a string of deals as the firm starts to put its large cash position - $1B at the end of Q3 - to work.| Dec. 12, 2011, 8:36 AM