Swiss technology giant ABB will confidently buy UK-based industrial automation firm Rotork.
The takeover involves a £4.1 billion offer for Rotok shares now.
Total price sums to $5.5 billion, ABB’s largest deal so far.
The move follows ABB’s second-quarter financial results reported.
Its earnings topped expectations prior to the purchase.
Reports of the acquisition sent Rotok’s share price elevated on the market.
Analysts see the deal as a clear push forward the automation market.
Investors reacted positively, with Rotok shares climbing after the announcement.
The combined entity aims to grow its global footprint.
Regulators are expected to scrutinize the merger under competition law.