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ABB acquires Baldor Electric

Posted By Lauren Heartsill Dowdle On December 1, 2010 @ 9:17 am In Industry Briefs | No Comments

ABB acquired Baldor Electric in an all-cash transaction valued at approximately $4.2 billion.

This transaction provides ABB with a North American presence in the industrial electric motor market. ABB will retain Baldor’s management, brand and headquarters in Fort Smith, Arkansas.

ABB will commence a tender offer to purchase all of Baldor’s outstanding shares for $63.50 per share in cash. To learn more about ABB, visit abb.com [1].

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[1] abb.com: http://www.abb.com

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