ABB has finalised a deal to buy General Electric’s industrial solutions business unit for $2.6 billion.
The deal would result in ABB taking over the part of GE’s business which supplies circuit breakers and other electrical equipment to industry.
GE Industrial Solutions is said to have deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. Continue reading ABB agrees to buy General Electric’s industrial business unit for $2.6 billion
General Electric has resumed negotiations to sell its industrial solutions business to ABB, according to a report on Reuters.com.
The US conglomerate’s industrial solutions business includes products such as circuit breakers, relays, panel boards and other technologies for sectors including power generation, telecommunications and mining.
Swiss company ABB had previously talked to GE about possibly purchasing the business, and the price it offered was said to be $2 billion. Continue reading General Electric resumes talks to sell its industrial solutions business to ABB