ABB beats Q3 estimates, to acquire 51% stake in Mitsubishi Electric power distribution unit

ABB reported Q3 orders of $12.06B (est $11.43B) and operating EBITA of $2.03B (est $2.00B). The company will acquire a 51% stake in Mitsubishi Electric's low-voltage power distribution unit for about $495M and form a joint venture with Mitsubishi Electric in power distribution.

Detected & updated continuously · Source: Nebula