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ABB to Buy Rotork for £4.1 Billion in All-Cash Deal
Swiss firm ABB will pay 506p per share to buy British engineering company Rotork. The £4.1 billion deal will keep Rotork operating as a separate division.
Jul 16, 4:19 AM·1m read1 source
The IndependentAudio version
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Swiss firm ABB has agreed to acquire British engineering company Rotork for £4.1 billion, The Independent reported. ABB will pay 506p per share for the Bath-headquartered firm that specializes in flow control equipment for the oil and gas industry. ABB, based in Zurich, plans to operate Rotork as a separate division within its group.
Morten Wierod, president and chief executive of ABB, said the company had followed Rotork for many years and admired its execution excellence, engineering quality and customer trust. Wierod added that the transaction offers a compelling strategic fit that will expand ABB’s automation offering.
Dorothy Thompson, chairwoman of Rotork, said the combination aligns two companies focused on automation and electrification to support more sustainable operations.
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