|Bid||24.89 x 900|
|Ask||24.90 x 2100|
|Day's Range||24.77 - 25.04|
|52 Week Range||23.58 - 32.38|
|PE Ratio (TTM)||30.29|
|Dividend & Yield||0.96 (3.97%)|
|1y Target Est||N/A|
Swiss power grid maker ABB will pay $2.6 billion for General Electric's Industrial Solutions business, it was announced Monday.
Darius Adamczyk, who took the helm at Honeywell this year, is determined to extend the company’s winning streak while evaluating every facet of its sprawling business.
Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6 billion in a bet it can improve the division's lackluster margins over the next five years, the Swiss engineering company said on Monday. Zurich-based ABB sees potential for annual cost benefits of $200 million with the deal, which includes an agreement for long-term use of GE's brand and a strategic partnership. In 2016, the GE business had sales of $2.7 billion.