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. The deal, originally agreed in October last year at an enterprise value of $5.375 billion, was reported by the Financial Times. ABB stated it is in close dialogue with SoftBank and working constructively on the transaction, while SoftBank declined to comment.
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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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ABB confirms China blocked SoftBank deal for robotics unit
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Tech company ABB confirmed that it has been informed by SoftBank Group that Chinese regulators have blocked the Japanese technology conglomerate’s planned acquisition of its robotics business in China. ABB said Thursday that it is in close dialogue with SoftBank and that the two companies are working constructively on the transaction. The move puts the brakes on SoftBank’s bid to buy ABB’s robotics division, a deal a
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Source：Robotics — Web news discovery · msn.com