ABB's Tender Offer for Baldor Common Stock Is Scheduled to Expire at 5:00 p.m. New York City Time on January 25, 2011
Share:
Zurich, Switzerland and Fort Smith, Arkansas, USA, January 24, 2011 - ABB Ltd (NYSE: ABB), the
leading power and automation technology group, and Baldor Electric Company (NYSE: BEZ), a North
American leader in industrial motors, confirmed today that the tender offer by ABB's subsidiary, Brock
Acquisition Corporation, for all the outstanding shares of common stock of Baldor is scheduled to expire
at 5 p.m., New York City time, on Tuesday, January 25, 2011. As previously announced on January 20,
2011, ABB's proposed acquisition of Baldor received clearance from the Antitrust Division of the United
States Department of Justice (DOJ). The receipt of the DOJ clearance satisfied the last remaining
regulatory condition to the tender offer.
ABB's cash tender offer for all of the outstanding shares of common stock of Baldor, at a price of $63.50
per share net to the holder in cash, without interest and less any required withholding taxes, is being
made in accordance with the terms and conditions of the merger agreement entered into between ABB
and Baldor as of November 29, 2010.
The closing of the tender offer remains subject to other customary terms and conditions, including the
condition that there shall have been validly tendered and not validly withdrawn a number of shares that
represents more than 66-2/3% of the sum of the number of Baldor shares issued and outstanding on the
expiration date of the offer and the number of Baldor shares issuable under stock options, stock units and
other derivative securities then exercisable. Subject to the satisfaction of these other conditions, ABB
expects to close the acquisition of Baldor soon after the expiration of the tender offer.
For more information about the tender offer investors should contact Mackenzie Partners, Inc. at 212-
929- 5500 or at 800- 322- 2885. Mackenzie's mailing address is: 105 Madison Avenue, New York, NY
10016.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry
customers to improve their performance while lowering environmental impact. The ABB Group of
companies operates in around 100 countries and employs about 117,000 people.
Baldor Electric Company (NYSE: BEZ) markets, designs and manufactures industrial electric motors,
mechanical power transmission products, drives and generators. Baldor employs approximately 7,000
people and is headquartered in Fort Smith, Arkansas, USA.
For more information please contact:
ABB Media Relations:
Thomas Schmidt
(Zurich, Switzerland)
Tel: +41 43 317 6568
media.relations@ch.abb.com
