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| ABB to buy US industrial motors firm Baldor Electric Swiss engineering group ABB and Baldor Electric Company, a North American leader in industrial motors, have agreed that ABB will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt. Under the terms of the definitive agreement, which has been unanimously approved by both companies' Boards of Directors, ABB will commence a tender offer to purchase all of Baldor's outstanding shares for $63.50 per share in cash. The transaction represents a 41 percent premium to Baldor's closing stock price on Nov. 29, 2010. The Board of Directors of Baldor will recommend that Baldor shareholders tender their shares in the tender offer. The deal is expected to close in the first quarter of 2011. write your comments about the article :: © 2010 Construction News :: home page |