ABB Snags Swiss Power Protection Co. Newave For $182M

Law360, New York (December 12, 2011, 1:33 PM EST) -- Swiss power technology giant ABB Ltd. will buy Newave Energy Holding SA, which provides power protection products and services, in a nearly $182 million deal to strengthen its position in the power control and quality market, the companies announced Monday.

ABB will make an all-cash tender offer of about $60 per publicly held share of Swiss-based Newave, which represents a premium of about 36 percent over the volume-weighted average share price of the last 60 trading days and a 22.4 percent premium over the company's closing...
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