Swiss industrial giant ABB will definitively buy UK-based industrial automation firm Rotork.
The acquisition involves a £4.1 billion offer for Rotok shares now.
Total price sums to $5.5 billion, ABB’s most significant deal so far.
The move follows ABB’s second-quarter financial results published.
Its profit topped expectations ahead to the purchase.
News of the acquisition sent Rotok’s share price elevated in trading.
Analysts see the deal as a decisive push forward the automation market.
Investors reacted positively, with Rotok shares gaining after the announcement.
The combined entity aims to expand its global footprint.
Regulators are expected to scrutinize the merger under competition law.