Iillustration_60886103 / Kheng Ho To / Dreamstime
Photo 298445088 / Sascha Winter / Dreamstime
Photo 199231482 / Ye Jin Kang / Dreamstime
Photo 31660527 / Tudor / Vint / Dreamstime
Pphoto\ 33574911 / Khunaspix / Dreamstime

Reuters: GE, ABB Restart Talks Over Industrial Solutions

Aug. 24, 2017
Schneider Electric said to have lost interest.

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.