ABB, Schneider Electric bid for General Electric unit - sources

ABB, Schneider Electric bid for General Electric unit - sources
 

European engineering groups ABB Ltd (ABBN.S) and Schneider Electric SE (SCHN.PA) are competing for General Electric Co's (GE.N) industrial solutions division, which could fetch as much as $3 billion, according to people familiar with the matter.
The divestiture would represent a key step by GE to focus on its core businesses and improve its operational performance, amid pressure from Nelson Peltz's activist hedge fund Trian Fund Management.
ABB and Schneider Electric are through to the second round of bidding for GE's industrial solutions business, a provider of primarily electrical... read more

 
21 April 2017 in Business, Views: 59
Source: Reuters
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