Kirkland Represents ABB in $4.2B Baldor Deal

Law360, New York (November 30, 2010, 4:45 PM EST) -- Swiss power giant ABB Ltd. agreed Tuesday to acquire Baldor Electric Company in a deal worth $4.2 billion as ABB looks to expand its presence in the North American electric motor market.

ABB, which focuses on power and automation technology, offered an all-cash deal for Baldor that included $1.1 billion of net debt. The deal is expected to close in the first quarter of 2011.

“Baldor is a great company with an extremely strong brand in the world’s largest industrial market,” ABB CEO Joe Hogan said....
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