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RBC BEARINGS INCORPORATED

(ROLL)
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RBC Bearings Incorporated : near deal to buy ABB's transmission unit- Bloomberg News

07/25/2021 | 05:38pm EDT

July 25 (Reuters) - RBC Bearings Inc is in advanced talks to buy the power transmission unit of Swiss industrial giant ABB Ltd, Bloomberg reported on Sunday.

The report comes days after ABB's Chief Executive Bjorn Rosengren said an announcement on the sale of the unit, known as Dodge, would be made in the next few weeks.

Dodge is valued at between $2.5 billion and $3 billion and a deal between the ABB and Oxford, Connecticut-based RBC Bearings could be reached as soon as this week, Bloomberg reported https://www.bloomberg.com/news/articles/2021-07-25/rbc-bearings-is-said-to-near-deal-for-abb-s-dodge-unit?sref=V7uxlNge, citing people familiar with the matter.

ABB and RBC Bearings did not immediately respond to a Reuters request for comment.

Dodge makes products including bearings used in industrial food processing operations and belted drives for conveyors in giant coal mines. ABB announced it was exiting the business last year. (Reporting by Derek Francis in Bengaluru Editing by Sonya Hepinstall)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 1.38% 33.01 Delayed Quote.31.77%
RBC BEARINGS INCORPORATED 8.67% 216.87 Delayed Quote.11.47%
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Analyst Recommendations on RBC BEARINGS INCORPORATED
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Financials (USD)
Sales 2022 669 M - -
Net income 2022 113 M - -
Net Debt 2022 - - -
P/E ratio 2022 44,5x
Yield 2022 -
Capitalization 5 623 M 5 623 M -
Capi. / Sales 2022 8,40x
Capi. / Sales 2023 7,55x
Nbr of Employees 3 885
Free-Float 94,5%
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Technical analysis trends RBC BEARINGS INCORPORATED
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 199,57 $
Average target price 208,00 $
Spread / Average Target 4,22%
EPS Revisions
Managers and Directors
Michael J. Hartnett Chairman, President & Chief Executive Officer
Robert M. Sullivan VP, Chief Financial & Accounting Officer
Daniel A. Bergeron Chief Operating Officer, Director & Vice President
Edward D. Stewart Independent Director
Steven H. Kaplan Independent Director
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