Engineering group Rotork acquired by Swiss ABB in £4.1bn deal

Rotork, a UK-based FTSE 250 engineering firm, has agreed to a £4.1bn takeover by Swiss rival ABB. The deal values Rotork at 506p per share in cash, a 73% premium over its closing price on 15 July. Rotork's board unanimously recommended the offer to shareholders. ABB CEO Morten Wierod cited a compelling strategic fit, and Rotork will operate as a separate division within ABB's automation business, expected to add 3% to ABB's total revenue. The acquisition is part of a broader trend of foreign buyers targeting London-listed companies, with 29 proposed takeovers over £100m this year. The article also notes subdued IPO activity and criticism from Shadow Business Secretary Andrew Griffith regarding London's capital market challenges.

First published Jul 23, 07:17 AM UTC1 reports · 1 sources

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Opened from WirecurrentJul 16, 07:16 AM UTC

Engineering group Rotork acquired by Swiss ABB in £4.1bn deal

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Engineering group Rotork acquired by Swiss ABB in £4.1bn dealCity AMWesternJul 16, 07:16 AM UTC

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