Home / Business and Economy / ABB Eyes Automation Expansion with Rotork Acquisition
ABB Eyes Automation Expansion with Rotork Acquisition
16 Jul
Summary
- ABB Ltd. is acquiring Rotork Plc for approximately $5.5 billion.
- The acquisition aims to expand ABB's automation business significantly.
- Rotork shareholders will receive 503 pence per share, a 60% premium.
ABB Ltd. has agreed to acquire the British industrial components firm Rotork Plc. The transaction carries an enterprise value nearing $5.5 billion.
This acquisition is strategically aimed at bolstering and expanding ABB's existing automation business.
Rotork shareholders are slated to receive 503 pence in cash for each Rotork share they hold. This offer represents a significant premium of roughly 60% compared to Rotork's average share price over the last three months.
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