Abb News

Zurich, Switzerland, February 7, 2012 - ABB, the leading power and automation technology group, has won a major order from Hydro One Networks Inc., the power transmission and distribution utility of the Canadian province of Ontario, to supply an indoor gas-insulated switchgear substation, an outdoor switchyard with air-insulated switchgear and ... (more)

ABB Ltd. is now a part of the project to meet the rising demand for electricity in Saudi Arabia.

ABB Ltd was downgraded by UBS AG from a "buy" rating to a "neutral" rating in a research note issued on Monday.

Exxon will sell its Japanese refining and marketing business to TonenGeneral Sekiyu for $3.9 billion, in a deal that underscores a larger trend of oil companies shedding refining businesses and turning to exploration in hopes of boosting profits.

ABB, the leading power and automation technology group, announces the introduction of the new MB- Rx in-situ Reaction Monitor for research laboratories and pilot plants in the chemical, petrochemical, pharmaceutical and biopharmaceutical industries.

We believe that the proposed transaction would complement ABB's existing low voltage product portfolio and would not dilute its already strong business risk profile.

Seagate Technology. : Seagate announced on December 19, 2011 the closing of the acquisition of the hard disk drive business of Samsung Electronics Co.

The stock last traded at $20.79, up from its previous close of $20.55. Separately, analysts at Zacks Investment Research downgraded shares of ABB Ltd from a "neutral" rating to an "underperform" rating in a research note to investors on Saturday, January 21st.

Thomas & Betts Corp. : ABB and Thomas & Betts announced that both companies' boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9B. The acquisition price represents a 24% premium to Thomas & Betts' closing stock price on Jan.

Thomas & Betts Corporation : Baird believes the chances for the emergence of an alternative suitor with a superior offer for Thomas and Betts is remote.

Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 10:20 a.m. in New York.

Exxon will sell its Japanese refining and marketing business to TonenGeneral Sekiyu for $3.9 billion, in a deal that underscores a larger trend of oil companies shedding refining businesses and turning to exploration in hopes of boosting profits.

In this Jan. 25, 2012 photo, traders John Santiago, left, and Craig Spector work on the floor of the New York Stock Exchange.

Exxon decided to sell its stake in a Japanese refinery for $3.9 billion. Switzerland-based ABB agreed to buy Thomas & Betts for $3.9 billion and Pep Boys agreed to be acquired by The Gores Group for $1 billion.

Swiss engineering group ABB Ltd. said Monday that it has agreed to pay $3.9 billion in cash for Thomas & Betts Corp., a deal that boosts its market presence in North America.

U.S. stock futures are trading sharply lower this morning, as Wall Street warily eyes Greece and the euro-zone's burgeoning debt crisis.

The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

ABB Ltd. is near an agreement to buy Thomas & Betts Corp., a maker of electrical connectors, for about $4 billion in cash, a person with knowledge of the plan said.

Memphis-based Thomas & Betts may be sold to a Swiss engineering conglomerate in a $4 billion deal, the Wall Street Journal reported Sunday.

EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions.