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GE, ABB and Rivals Have $128 Billion in M&A Firepower, Citi Says

General Electric Co., Siemens AG, ABB Ltd. are among the industrial companies that have amassed a combined $128 billion in firepower for mergers and acquisitions, according to estimates from Citigroup.

The combined war chest of GE, Siemens, ABB, Royal Philips Electronics NV and Schneider Electric SA amounts to more than 86 billion euros ($116 billion), Citi analysts including Mark Fielding said in a note.

The number of global industrial transactions rose to 5,043 so far this year, compared with 4,747 at this time last year, Bloomberg data show. The total disclosed volume of deals rose 29 percent to $344.78 billion.

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