ABB confirms China blocked SoftBank deal for robotics unit
ABB confirms China blocked SoftBank deal for robotics unit
ABB confirmed that Chinese regulators have blocked SoftBank Group's planned acquisition of its robotics business in China, halting a deal originally agreed in October at an enterprise value of $5.375 billion. ABB stated it is working constructively with SoftBank on the transaction, while SoftBank declined to comment.
Source: Robotics — Web news discovery · Read original article ↗
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greed in October last year at an enterprise value of $5.375 billion. The Financial Times earlier reported that Chinese regulators were prohibiting the takeover. SoftBank declined to comment on the matter when contacted earlier. ABB is a Swiss-Swedish company specializing in electrification and automation. Write to Fabiana Negrin Ochoa at [email protected]
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Source：Robotics — Web news discovery · msn.com