Baldor Electric Sold to Swiss Company ABB in $4.2 Billion Deal

by Gwen Moritz and Lance Turner  on Tuesday, Nov. 30, 2010 6:53 am  

Baldor CEO John McFarland said he's confident the combined operation will be "well positioned to capitalize on meaningful growth opportunities in the future."

Publicly traded ABB of Zurich will pay $63.50 per share in cash, a 41 percent premium over Monday's closing price for Baldor stock.

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