Deals
GE Is Said to Near Sale of Industrial-Solutions Unit to ABB
- U.S. manufacturer likely to announce agreement by next week
- Swiss company to pay $2.5 billion to $3 billion, people say
ABB CEO Sees Organic Growth After GE Deal
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General Electric Co. is nearing an agreement to sell its industrial-solutions business to ABB Ltd. in a deal valued at $2.5 billion to $3 billion, people with knowledge of the matter said.
The companies are likely to announce an accord by next week, said the people, who asked not to be identified because the talks are private. The decision caps a months-long bidding process after GE put the electrical-products unit up for sale in December.