Abb to divest mechanical power transmission division (dodge) to rbc bearings for $2.9 billion

Zurich--(business wire)--abb today announced it has signed a definitive agreement to divest its mechanical power transmission division (dodge) to rbc bearings incorporated (nasdaq: roll), for $2.9 billion in cash. the transaction will create a leading manufacturer of highly engineered, performance-critical bearings and motion control components. the transaction is expected to be completed by the end of the year 2021, subject to customary closing conditions, including regulatory review. for more
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