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....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.