Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd.    ABBN   CH0012221716

ABB LTD. (ABBN)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

ABB, Schneider Electric bid for General Electric unit - sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/21/2017 | 06:49pm CEST
The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne

European engineering groups ABB Ltd (>> ABB Ltd.) and Schneider Electric SE (>> Schneider Electric) are competing for General Electric Co's (>> General Electric Company) industrial solutions division, which could fetch as much as $3 billion, according to people familiar with the matter.

European engineering groups ABB Ltd (>> ABB Ltd.) and Schneider Electric SE (>> Schneider Electric) are competing for General Electric Co's (>> General Electric Company) industrial solutions division, which could fetch as much as $3 billion, according to people familiar with the matter.

The divestiture would represent a key step by GE to focus on its core businesses and improve its operational performance, amid pressure from Nelson Peltz's activist hedge fund Trian Fund Management.

ABB and Schneider Electric are through to the second round of bidding for GE's industrial solutions business, a provider of primarily electrical equipment, the sources said this week. Schneider Electric is looking for a partner to break up the business should its bid prevail, in order to address any antitrust concerns, the sources added.

Private equity firms, including KKR & Co LP (>> KKR & Co. L.P.), Clayton Dubilier & Rice LLC, Warburg Pincus LLC and Onex Corp (>> ONEX Corporation), are also in the running, according to the sources.

The sources asked not to be identified because details of the sale process are confidential. Schneider Electric declined to comment, while GE, ABB, KKR, Clayton Dubilier & Rice, Warburg Pincus and Onex did not immediately respond to requests for comment.

GE reported quarterly sales and adjusted earnings results on Friday that beat analysts estimates, but its shares fell on concerns about some of its industrial businesses.

The maker of jet engines, power plants and other industrial equipment also reported a negative $1.6 billion in cash flow from industrial operating activities compared with a negative $600 million it expected for the quarter due to a $1.3 billion increase in working capital and the timing of bills to customers.

Last month, GE agreed to sell its industrial water treatment business to French waste and water group Suez SA (>> Suez Environnement) and Caisse de dépôt et placement du Québec for 3.2 billion euros (2.67 billion pounds).

(Reporting by Greg Roumeliotis in New York; Editing by Tom Brown)

By Greg Roumeliotis

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ABB LTD.
04/27 ABB : Data on Farming Reported by Researchers at ABB Ltd (Fault ride through cap..
04/27 ABB : Findings from ABB Ltd in the Area of Metals Research Reported (Application..
04/27 ABB : presents compact uninterruptible power distribution solution to support mi..
04/26 ABB LTD (ADR) (NYSE : ABB), International Business Machines Corp (NYSE:IBM) Join..
04/26 ABB PRESENTS EKIP UP : digital unit to upgrade existing low-voltage systems
04/25 ABB : fast charging technology in UK for first for electric buses
04/25 ABB : gets smart with manufacturing at Hanover
04/25 ABB : writes the next chapter in pioneering high voltage direct current technolo..
04/24 ABB AT HANNOVER MESSE 2017 : Showcasing customer value in the digital age
04/23 ABB : Ability™ Smart Sensor now available for the European market
More news
Sector news : Heavy Electrical Equipment - NEC
04/25 Thyssenkrupp sees internet-connected elevators giving profits a lift
04/13 Dassault Aviation not in favour of Thales-Alstom rail tie-up - CEO
04/11 Siemens, Bombardier in talks about rail JV - sources
04/11 SIEMENS, BOMBARDIER IN TALKS ABOUT R : sources
04/11 Dialog Semi slump, banks weigh on European shares; volatility up
More sector news : Heavy Electrical Equipment - NEC
News from SeekingAlpha
04/28 Fanuc Leads The Way For Smart Factory Software For Now, Kuka And ABB To Follo..
04/26 ABB Fills A Gap, But Has More Work To Do
04/25 WALL STREET BREAKFAST : Border Wall, Taxes And Tariffs
04/25 ABB, IBM partner on industrial AI
04/21 Wait For Twitter's Earnings - Cramer's Lightning Round (4/20/2017)
Advertisement
Financials ($)
Sales 2017 33 669 M
EBIT 2017 3 941 M
Net income 2017 2 436 M
Debt 2017 1 143 M
Yield 2017 3,19%
P/E ratio 2017 21,19
P/E ratio 2018 18,71
EV / Sales 2017 1,65x
EV / Sales 2018 1,58x
Capitalization 54 288 M
More Financials
Chart ABB LTD.
Duration : Period :
ABB Ltd. Technical Analysis Chart | ABBN | CH0012221716 | 4-Traders
Full-screen chart
Technical analysis trends ABB LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 23,4 $
Spread / Average Target -4,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Timo Ihamuotila Chief Financial Officer
Andy Tidd Head-Information Systems
Bazmi Rizwan Husain Chief Technology Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ABB LTD.12.76%54 288
SHANGHAI ELECTRIC GROU..0.00%14 184
ALSTOM11.37%6 977
ABB INDIA LTD34.48%4 650
CHINA XD ELECTRIC CO.,..8.78%4 516
HENAN PINGGAO ELECTRIC..-3.01%2 984
More Results