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  • 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.
    | Sep. 21, 2015, 7:49 AM
  • 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. 20, 2014, 7:47 AM
  • Aug. 18, 2014, 10:58 AM
    • ABB (ABB -0.3%) has completed the sale of its Meyer Steel Structures business to Trinity Industries (TRN +2.1%).
    • The deal, announced on June 27, closed yesterday for $600M in an all-cash transaction.
    • The company divested the business because of limited synergies with its core portfolio.
    | 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)
    | Jul. 25, 2014, 7:31 AM
  • 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.
    | Jun. 27, 2014, 8:45 AM
  • 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.
    | Feb. 7, 2014, 7:36 AM
  • 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. 15, 2013, 7:15 AM
  • 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)
    | Oct. 8, 2013, 3:10 AM
  • 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
    ABB (ABB -1.1%) agrees to acquire the train power business of Italy based RGM for an undisclosed amount. The deal adds to ABB's expansion of its rail business, which has grown 30% annually in recent years.
    | Jul. 30, 2012, 8:15 AM
  • Jun. 12, 2012, 5:38 PM
    German gas- and electric-meter company Elster Group (ELT), majority owned by investment firm CVC Capital, is on the auction block and could fetch more than $2B, WSJ reports, citing Siemens (SI) and ABB as potential suitors.
    | Jun. 12, 2012, 5:38 PM | 2 Comments
  • Apr. 23, 2012, 2:45 PM
    ABB (ABB -3.1%) responds to ongoing rumors that it's considering buying Rockwell (ROK -3.1%), saying that it's still considering acquisitions to fill gaps in their restructuring, however a potential bid for ROK is not in its plans.
    | Apr. 23, 2012, 2:45 PM
  • Jan. 30, 2012, 2:22 AM

    ABB (ABB) will buy Thomas & Betts Corp. (TNB) for $3.9B to expand its North American distribution network and add low-voltage equipment. The $72/share offer is a 24% premium to TNB's Friday close. (PR)

    | 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