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Hitachi buys live wire in ABB power deal

Monday, December 17, 2018 - 01:18

ABB will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters. As Pascale Davies reports, the acquisition, which values the unit at $11 billion, will see Hitachi become one of the largest players in the power grid industry.

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ABB will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters. As Pascale Davies reports, the acquisition, which values the unit at $11 billion, will see Hitachi become one of the largest players in the power grid industry.

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Hitachi buys live wire in ABB power deal

Monday, December 17, 2018 - 01:18