Sep
25
Swiss Firm ABB to Buy G.E.’s Industrial Solutions Business for $2.6 Billion
ByLONDON — The Swiss engineering firm ABB Group said on Monday that it would buy General Electric’s business that provides circuit breakers and other electrical equipment for industry for $2.6 billion, as the American giant looks for ways to shake up its operations.
The deal is the latest move by General Electric as it seeks to refocus on its roots. The company had expanded into a sprawling conglomerate but its once-huge financial business threatened its survival after the 2008 economic crisis, and it has been selling off an array of units since…
Swiss Firm ABB to Buy G.E.’s Industrial Solutions Business for $2.6 Billion
