Posted 1/20/2011 07:57 am
Updated 1 year ago
ABB Ltd. and Baldor Electric Co. of Fort Smith said Thursday that ABB's tender offer for Baldor shares has once again been extended.
The tender offer is part of the Swiss firm's planned $4.2 billion bid to purchase the electric motors and drives manufacturer.
The new expiration date is set for 5 p.m. Jan. 25. It had previously been scheduled for Jan. 19.
In a news release from the companies, ABB and Baldor said they expect the U.S. Department of Justice "will conclude its review and clear the transaction shortly."
In December, the two firms said that the Antitrust Division of the United States Department of Justice had requested more information and documents as it reviewed the deal.
ArkansasBusiness.com will update this story.