ZURICH, Switzerland and FORT SMITH, Ark., Dec. 8, 2010 (GLOBE NEWSWIRE) -- Zurich, Switzerland and Fort Smith, Arkansas, USA, December 8, 2010 – ABB Ltd (NYSE: ABB), the leading power and automation technology group, and Baldor Electric Company (NYSE: BEZ) (Baldor), a North American leader in industrial motors, announced today that ABB's subsidiary, Brock Acquisition Corporation, is commencing the previously announced cash tender offer for all of the outstanding shares of common stock of Baldor, at a price of $63.50 per share net to the holder in cash, without interest and less any required withholding taxes. The tender offer is being made pursuant to the merger agreement entered into between ABB and Baldor as of November 29, 2010.
ABB Commences Previously Announced Tender Offer To Acquire All Outstanding Shares Of Common Stock Of Baldor Electric Company
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