ABB's Baldor Purchase Cleared by DOJ

ABB and Baldor Electric Company have announced that the Antitrust Division of the U. S. Department of Justice has cleared ABB's acquisition of Baldor pursuant to a 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. This antitrust clearance satisfies the last remaining regulatory condition to the tender offer, which has now closed.