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ABB Ltd. agreed to buy the industrial solutions business of General Electric Co. in a deal valued at $2.6 billion that will strengthen the Swiss companys business in the U.S., its largest market.
The transaction is expected to generate cost savings of about $200 million annually, the Zurich-based company said in a statement on Monday. GE started a bidding process for industrial solution…
Read the full article at: https://www.bloomberg.com/news/articles/2017-09-25/abb-to-purchase-ge-s-industrial-solutions-unit-for-2-6-billion