Swiss technology giant ABB will definitively buy UK-based industrial automation firm Rotork.
The acquisition involves a £4.1 billion offer for Rotok shares today.
Total value sums to $5.5 billion, ABB’s biggest deal so far.
The step follows ABB’s second-quarter financial results reported.
Its operating profit topped expectations ahead to the purchase.
Announcements of the acquisition sent Rotok’s share price higher in trading.
Analysts see the deal as a clear push into the automation market.
Investors reacted positively, with Rotok shares rising after the announcement.
The combined entity aims to expand its global footprint.
Regulators are expected to review the merger under competition law.