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$34.11 0.3  1.0%

Last Trade - 07/05/21

Sector
Industrials
Size
Large Cap
Market Cap £49.21bn
Enterprise Value £50.49bn
Revenue £19.19bn
Position in Universe 188th / 6858

Cevian Capital says ABB shares could be worth over 35 CHF

Mon 12th August, 2019 7:44am
STOCKHOLM, Aug 12 (Reuters) - The head of activist fund
Cevian Capital said on Monday that shares in Swiss engineering
group ABB  ABBN.S  could be worth more than 35 Swiss francs 
($35.99) if newly appointed CEO Bjorn Rosengren succeeds in
raising margins and valuations to that of rivals.
    The shares closed at 17.53 francs on Friday.
    "ABB's problem is that margins and valuation multiples are
considerably lower than rivals in each business area," Cevian
managing partner Christer Gardell said in an emailed statement.
    "If these gaps are closed, ABB should be worth more than 35
CHF. That is Bjorn's main task."  
    Cevian is ABB's second largest shareholder with a 5.3%
stake. 
    ($1 = 0.9726 Swiss francs)

 (Reporting by Simon Johnson; editing by Jason Neely)
 ((simon.c.johnson@thomsonreuters.com; +46 8 700 1045; Reuters
Messaging: simon.c.johnson.reuters.com@reuters.net))
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