Bloomberg News

Trinity to Buy ABB’s Meyer Steel Unit for $600 Million

June 27, 2014

Trinity Industries Inc. (TRN:US) agreed to buy ABB Ltd. (ABBN)’s Meyer Steel Structures unit for about $600 million as the Swiss company sells assets acquired in the purchase of Thomas & Betts Corp. that don’t fit its portfolio.

The unit is based in Memphis, Tennessee and employs more than 1,100 people, Zurich-based ABB said in a statement today. Trinity said it expects to complete the purchase in the third quarter and pay with cash on hand.

JPMorgan Chase & Co. advised Trinity and K&L Gates acted as legal counsel. ABB bought Thomas & Betts in 2012.

To contact the reporter on this story: Thomas Mulier in Geneva at tmulier@bloomberg.net

To contact the editors responsible for this story: James Boxell at jboxell@bloomberg.net Kim McLaughlin


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Companies Mentioned

  • TRN
    (Trinity Industries Inc)
    • $50.3 USD
    • 0.27
    • 0.54%
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