GE and ABB have resumed negotiations around ABB’s possible acquisition of GE Industrial Solutions, according to Reuters. The business unit, which makes circuit breakers, relays, panel boards and other industrial electrical equipment, has been on the block since December last year.
“GE is entertaining the possibility of selling its industrial solutions business for a little over $2 billion after initially hoping for more than $3 billion, four sources said this week. The talks with ABB had ended last month over price disagreements,” said the Reuters report, which went on to say Schneider Electric has lost interest.