Adds ABB remark in fourth paragraph
July 26 (Reuters) – RBC Bearings Inc ROLL.O is in superior talks to purchase the ability transmission unit of Swiss industrial big ABB Ltd ABBN.S, Bloomberg reported on Sunday.
The report comes days after ABB’s Chief Government Bjorn Rosengren mentioned an announcement on the sale of the unit, referred to as Dodge, can be made within the subsequent few weeks.
Dodge is valued at between $2.5 billion and $three billion and a deal between the ABB and Oxford, Connecticut-based RBC Bearings might be reached as quickly as this week, Bloomberg reported, citing folks accustomed to the matter.
ABB declined to remark to Reuters on Monday. RBC Bearings didn’t instantly reply to a Reuters request for remark.
Dodge makes merchandise together with bearings utilized in industrial meals processing operations and belted drives for conveyors in big coal mines. ABB introduced it was exiting the enterprise final 12 months.
(Reporting by Derek Francis in Bengaluru, further reporting by John Revill in Zurich; Enhancing by Sonya Hepinstall and Christopher Cushing)
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