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ABB In Advanced Talks To Sell Power Transmission Business To RBC Bearings : Report

ABB Ltd. (ANN.L,ABB) is in advanced talks to sell its mechanical power transmission business to RBC Bearings Inc., Bloomberg reported citing people familiar with the matter.

A deal could be reached as soon as this week and value the business, known as Dodge, at between $2.5 billion and $3 billion. Discussions are ongoing, and a potential deal could still be delayed or fall apart, the report said.

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