GE Sells Industrial Solutions Segment to ABB
Swiss power-grid maker ABB (NYSE: ABB) announced that it will buy General Electric's (NYSE: GE) industrial-solutions business for $2.6 billion. Many spectators feel ABB is getting somewhat of a bargain in this deal, but the sale of the underperforming segment is in keeping with new CEO John Flannery's efforts to cut costs and refocus the business on its core strengths.
In this segment of Industry Focus: Energy, show host Sarah Priestley and Motley Fool premium analyst Taylor Muckerman discuss what the deal means for GE and ABB.
A full transcript follows the video.
Source: Fool.com