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ABB on New York Consolidated

6 Dec 2016
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Thu, Oct 27 2016

UPDATE 4-Brexit dents Swiss engineer ABB's orders and outlook

ZURICH/MUNICH, Oct 27 ABB's orders slipped for a sixth quarter and are not forecast to rise soon as Brexit, the U.S. elections and July's attempted Turkish coup compounded hesitation among customers of its Power Grids business, knocking its shares.

BRIEF-Sweden's Cevian: ABB should rethink plan to keep Power Grids unit

* Task to reach share price of chf 35 has become more difficult after today's report

UPDATE 3-Brexit dents Swiss engineer ABB's orders and outlook

* CFO departs as ABB opts for 'new talent' (Adds analyst comment, updates shares)

BRIEF-ABB says China demand recovering after 'massive slowdown'

* CEO Ulrich Spiesshofer says expects Power Grids orders to resume following hesitation, 'definitely not have another of these developments' going forward

ABB rejects shareholder calls to spin off Power Grids

ZURICH ABB will keep its Power Grids business in a rejection of demands from an activist investor to spin it off and the Swiss engineering group has also unveiled plans for a $3 billion share buy back from next year.

UPDATE 3-ABB rejects shareholder calls to spin off Power Grids

* ABB sees profit potential in software, consulting (Adds comments from shareholder Nordea, updates shares)

BRIEF-Fluor Corp and ABB form alliance to deliver large EPC substation projects globally

* Global strategic alliance for execution of large turnkey engineering, procurement, construction (EPC) electrical substation projects

Cevian says ABB keeping Power Grids is 'unfortunate decision'

ZURICH Cevian Capital, ABB's second-biggest shareholder, on Tuesday criticized the Swiss engineering group's decision to keep its Power Grids division.

BRIEF-ABB CEO says can reach share price of 35 Sfr

* CFO (not CEO) says cash priority is organic growth, then dividend, then acquisitions and buyback

BRIEF-Investor says supports conclusions of ABB strategic review

* ABB shareholder Investor AB's CEO says in statement that believes today's announcements by ABB are the right ones for the company and its shareholders

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