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ABB trumps Emerson Electric?s offer for Chloride Group with US$1.24 billion cash bid

Swiss based automation and power technology giant ABB has trumped a previous offer for London listed Chloride from Emerson Electric. ABB is offering 325 pence per share in cash for Chloride, which values the power and security group at approximately £860 million (US$1.24 billion). Emerson Electric’s last offer for Chloride was pitched at 275 pence.

 

Both companies are after Chloride’s strong presence in the medium to high power UPS market. Chloride's UPS offering is used in applications where power quality and security are critical, including many markets where ABB already has a strong presence; utilities, petrochemicals, data centres, financial institutions, hospitals and airports.

 

 

Source: Proactive Investors

 

 

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