|
The companies are likely to announce an agreement by next week,
the report said on Friday.
A company spokesman for ABB said the company does not "comment
on market rumors." GE was not immediately available for comment.
GE resumed negotiations to sell its industrial solutions
business to ABB after John Flannery, who became CEO on Aug.1,
decided to continue to divest the industrial conglomerate's
non-core assets, Reuters had reported.
GE has been reviewing its portfolio after divesting its finance,
appliances and NBCUniversal units in recent years.
The company has also been under pressure from Nelson Peltz's
activist hedge fund Trian Fund Management LP to cut costs and
focus on its core industrial businesses.
Earlier this year, GE agreed to sell its industrial water
treatment business to French waste and water group Suez SA <SEVI.PA>
and Caisse de dépôt et placement du Québec for 3.2 billion euros
($3.4 billion).
GE's shares were marginally up at $24.96 in very light premarket
trading.
(Reporting by Shubham Kalia and Arunima Banerjee in Bengaluru;
Editing by Gopakumar Warrier and Arun Koyyur)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
