ABB chief: Up to $8bn for buys in next 3 years
Swiss engineering group ABB has up to $8 billion available for takeovers in the next three years, Chief Executive Joe Hogan was quoted as saying on Sunday
Swiss engineering group ABB
"Our solid balance sheet allows us to do takeovers of up to $8 billion in the coming three years," Hogan told the SonntagsZeitung newspaper in an interview.
Under Hogan's leadership, ABB has done three big deals in the past two years, most recently agreeing to buy U.S. electrical components maker Thomas & Betts
Hogan told the newspaper he was not ruling out another big deal for this year but said buys worth several hundred million dollars were more likely, with holes ABB is looking to fill including in the low-voltage sector in India, he said.