|Bid||18.60 x 1200|
|Ask||0.00 x 800|
|Day's Range||19.07 - 19.26|
|52 Week Range||18.05 - 28.67|
|Beta (3Y Monthly)||1.16|
|PE Ratio (TTM)||18.24|
|Forward Dividend & Yield||0.83 (4.17%)|
|1y Target Est||N/A|
Ltd. is putting more power in the hands of its business leaders and reducing head count at its corporate office in a bid to boost its profit margin and cut $500 million a year in costs. ABB also announced it would scrap country and regional structures across its remaining business lines—electrification, industrial automation, robotics and discrete automation and motion. As part of the restructuring, the Swiss conglomerate gave business unit leaders ownership of products, functions, research and technology and territories.
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Moody's Investors Service ("Moody's") today changed the outlook on the A2 long-term issuer rating of ABB Ltd. (ABB) to negative from stable. At the same time, Moody's affirmed ABB's A2 long-term issuer rating, the P-1 short-term issuer rating and the A2 rated debt instruments. A full list of affected ratings can be found at the end of this press release.
Japanese companies have embarked on the biggest overseas acquisition spree in more than 20 years, echoing the deal boom of the 1980s as they race to buy growth to offset a shrinking domestic market and ageing workforce. Corporate Japan splashed out nearly $180bn on 621 outbound deals so far this year, compared with 685 deals with a total value of almost $80bn for the whole of 2017, according to financial data provider Dealogic. Hitachi (HTHIY) added another $6.4bn to Japan’s tally of deals on Monday after it bought an 80.1% stake in the power grids division of its Swiss-Swedish rival ABB (ABB) .
ABB intends to grow on the back of stellar sales, acquisitions and the Power Grids divestiture. However, material cost inflation remains a major drag.
The Swiss group could target application software and “chunky assets” in areas such as measurement and analytics that are key to the digitization of its process-automation business, Ulrich Spiesshofer said in an interview in London on Tuesday. Any deals would build on the group’s switch from selling infrastructure to governments to focusing on digitized industrial products such as factory robots, electrical supplies to data centers, charging stations for electric cars and household sockets that provide an Internet connection in every room. The climax of the transformation came with Monday’s agreement to sell ABB’s power-grid arm to Japan’s Hitachi Ltd., valued at $11 billion including debt.
The divestment of ABB's Power Grids business will enable it to focus more on its core businesses and technologies such as artificial intelligence.
TOKYO—Hitachi Ltd. agreed to acquire a power-grid unit from Switzerland-based ABB Ltd. for $6.4 billion, as the Japanese company beefs up its industrial portfolio against rivals such as General Electric Co. The deal, the largest yet for 108-year-old Hitachi, would give it 80.1% of the ABB unit initially, with an option to take a 100% stake later. Hitachi, once known as a maker of televisions and other consumer electronics, has given up most of its consumer lines after heavy losses a decade ago.
Stocks that moved substantially or traded heavily Monday: Molina Healthcare Inc., down $11.72 to $120 Insurers, hospitals and other health care companies fell after a Texas judge ruled that the 2010 Affordable ...
The $6.4 billion Hitachi-ABB deal makes Hitachi the world's No. 2 player in heavy electrical equipment by revenue behind General Electric.
CEO Ulrich Spiesshofer had previously resisted demands from the activist investor Cevian Capital to separate its power grids unit, which contributes a quarter of ABB’s sales but comparatively little profit. On Monday he capitulated, with the company saying it will sell a majority stake in the unit to Japan’s Hitachi Ltd and return roughly $7.7 billion of net proceeds to shareholders. The sale price for the power grids assets is roughly in line with what analysts had assumed.
Hitachi is nearing an agreement to buy 80.1 percent of Swiss engineering giant ABB Ltd.’s power-grid unit, in a deal that values the entire business at $11 billion. ABB has an option to sell its 19.9 percent stake three years after the current deal – Hitachi's largest-ever purchase – is completed. In its statement, ABB noted that Hitachi would help provide access to new markets as well as financing.
ABB has agreed to sell an 80.1% stake in its power grids division to Hitachi, generating cash proceeds of up to $7.8 billion which will be returned to shareholders.
Japan's Hitachi Ltd is close to agreeing a deal to buy Switzerland based ABB Ltd's power grid business for about 800 billion yen ($7.1 billion), the Nikkei business daily reported on Wednesday. Hitachi's board confirmed a plan to move forward with the deal, which would be the Japanese industrial conglomerate's largest-ever acquisition, the Nikkei reported https://asia.nikkei.com/Business/Business-Deals/Hitachi-nears-deal-worth-up-to-7bn-for-ABB-s-power-grid-business. A Hitachi spokesman said the company did not make any announcement and declined to comment further.
ABB has been in talks with Hitachi, Mitsubishi Electric Corp and State Grid of China [STGRD.UL] to sell all or part of the business, which makes power transformers and electricity substations, Reuters reported in November. "ABB confirms that it is currently in discussions with Hitachi to expand and re-define the existing strategic power grid partnership between the two companies announced in December 2014," the Swiss company said in a statement. Hitachi said in a statement it was discussing the power business with ABB but nothing had been decided.
The company will decide by mid-month where to locate a 25-person U.S. research facility, and Charlotte is expected to get the nod. Here's why.
Moody's America Latina ("Moody's") assigned Ba1 and Aaa.br global and national scale ratings, respectively, to the BRL224.0 million backed senior unsecured first issuance of debentures of Janauba Transmissora de Energia Eletrica S.A. (Janauba), with final maturity in 2033. The full and timely payment of the debentures is unconditionally and irrevocably guaranteed by its parent company Transmissora Alianca de Energia Eletrica S.A. (TAESA, Ba1/Aaa.br stable).