Reuters: Swiss industrial group ABB (ABBN.VX) is to buy solar energy firm Power-One Inc (PWER.O) for about $1 billion, betting growth in emerging markets will revive a sector ravaged by overcapacity and plunging demand in recession-hit Europe.
The world's biggest supplier of industrial motors and power grids said on Monday it had agreed to pay $6.35 per share in cash for Power-One, the world's second-largest maker of solar inverters that allow solar power to be fed into grids.
That is 57 percent above...